Puw. Downo music, m... R TEST 2 - Chapters 4.5 and 6 Help Save & Ex Required information The following information applies to the questions displayed below) Part 2 of 2 Laker Company reported the following January purchases and sales data for its only product. Units Acquired at Cost 240 units $16.50 - $ 3,960 190 units $25.50 8 0235:41 Date Activities Jan. 1 Beginning inventory Jan. 1e Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 170 units $15.50 - 2.635 190 units $25.50 $15.00 - 380 units 790 units $12.295 300 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 410 units, where 380 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $2,250, and that the applicable income tax rate is 40% (Round your Intermediate calculations to 2 decimal places.) Help Save & E TEST 2 - Chapters 4.5 and 6 Sou are trom the January 30 purchase, 5 are from the January 20 purchase, and are rom beginning inventory Required: Part 2 of 2 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $2,250, and that the applicable income tax rate is 40% (Round your intermediate calculations to 2 decimal places. 8 02 25 LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net Income