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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

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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 420 units, where 400 are from the January 30 purchase. 5 are from the January 20 purchase and 15 are from beginning inventory Date ACTIVE Units Acquired at Cast Units soldatetit Jan. 1 Beginning inventory 238 units@ $15.50 = $3.565 Jan. 10 sales 300 units $24.50 Jan. 20 Purchase 198 units 514.50 2.755 Jan. 25 Sales 220 units $24.50 Jan. 30 Purchase 400 units $14.00 5,600 Totals 120 units $11.920 400 units Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods Assume expenses are $2150, and that the applicable income tax rate is 40% (Round your average cost per unit to 2 decimal places.) LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO UFO Sales Cost of goods sold Gross profit

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