Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date January 1 January 10 Activities. Beginning inventory Sales January 20 January 25 Purchase Sales January 30 Purchase Totals Units Acquired at Cost 150 units @$7.50 = $1,125 Units sold at Retail 110 units @ $ 16.50 80 units @$ 6.50 = 200 units @ $ 6.00 = 430 units 520 90 units @ $ 16.50 1,200 $ 2,845 200 units 1. Compute gross profit for the month of January for Laker Company for the four inventory methods. 2. Which method yields the highest gross profit? 3. Does gross profit using weighted average fall between that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest gross profit?