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Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 380 units from the

Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 380 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory.

January 1 Beginning inventory 240units@$ 16.50=$ 3,960

January 10Sales190units@$ 25.50

January 20Purchase170units@$ 15.50=2,635

January 25Sales190units@$ 25.50

January 30Purchase380units@$ 15.00=5,700

Totals790units$ 12,295380units

Compute gross profit for the month of January for Laker Company for the four inventory methods using the periodic inventory system.

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