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 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 January 10 January 201 Activities Beginning inventory Sales January 251 January 30 Purchase Sales Purchase Totals 140 units 60 units Mats Acquired At Cost $6.00- 0500- $840 100 units 8515 300 30 unity es 15 100 units 300 units $4.50- 810 $1,900 100wit 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? Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 4 Compute gross profit for the month of January for Laker Company for the four inventory methods. (Round cost per unit to 2 decimal places and final answers to the nearest whole dollars.) LAKER COMPANY For Month Ended January 311 Sales Cost of goods sold Specific identification Weighted Average FIFO LIFO www.ainfoom Need a Simp We found wha options now