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Laker Company reported the following January purchases and sales data for its only product. Required: The Company uses a perpetual inventory system. For specific identification,
Laker Company reported the following January purchases and sales data for its only product. Required: The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 465 units, where 250 are from the January 30 purchase, 80 are from the January 20 purchase, and 135 are from beginning inventory. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $3,200, and that the applicable income tax rate is 35%. (Do not round your Intermediate calculations.)
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