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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 2 8 0 units

 Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 280 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory.

Date Activities Units Acquired at Cost Units sold at Retail

January 1 Beginning inventory 205 units @ $ 13.00 = $ 2,665 

January 10 Sales 165 units @ $ 22.00

January 20 Purchase 140 units @ $ 12.00 = 1,680 

January 25 Sales 145 units @ $ 22.00

January 30 Purchase 310 units @ $ 11.50 = 3,565 

Totals 655 units $ 7,910 310 units

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





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