Laker Company reported the following January purchases and sales data for its only product. The Company uses a periodic inventory system. For specific identification, ending inventory consists of 300 units, where 280 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Specific Identification 280 5 15 300 Date Activities Units Acquired at Cost Units sold at Retail 1-Jan Beginning inventory 190 units @ $7.00 = $1,330 10-Jan Sales 150 units $16 20-Jan Purchase 110 units $6.00 = 660 25-Jan Sales 130 units @ $16 30-Jan Purchase Totals 280 units 580 units (@ $5.50 = 1,540 $3,530 280 units Required: Weighted average cost per unit on: 1. Compute gross profit for the month of January for Laker Company for the four inventory methods. (Use cells A2 to M12 from the given information to complete this question.) 1-Jan $7.00 10-Jan $7.00 20-Jan $6.27 25-Jan $6.27 30-Jan $5.55 LAKER COMPANY For Month Ended January 31 Specific Identification Sales Cost of goods sold Gross profit Weighted Average FIFO LIFO