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Need all parts answered Someone help me pls Exercise 5-4 Perpetual ncome effects of inventory methods LO A1 Laker Company reported the following January purchases
Need all parts answered Someone help me pls Exercise 5-4 Perpetual ncome effects of inventory methods LO A1 Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 240 units $8.80 2.112 Jan. 10 Sales 135 units @$16.80 Jan. 20 Purchase 310 units $7.80 2,418 Jan. 25 Sales 235 units as16.80 Jan. 30 Purchase 180 units $6.80 1.224 730 units Totals $5.754 370 units Laker uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 180 are from the January 30 purchase, 80 are from the January 20 purchase, and 100 are from beginning inventory 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $2,500, and that the applicable income tax rate is 30%. (Do not round your Intermediate calculations.) LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO Cost of goods sold Gross profit Expenses 0 0 0 0 Income before taxes Income tax expense 0 S Net income
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