quirea information [The following information applies to the questions displayed below) Laker Company reported the following January purchases and sales data for its only product. For specific identification. ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 Activities Beginning Laventory 140 units Units Acquired at Cost $6.00- Units sold at Retail $840 January 10 Sales 100 units #615 January 20 Purchase 60 unita $5.00- 300 January 25 80 unite 85 15 January 30 Purchase Totals 180 units 8 $4.50- 380 unite 810 $1,950 100 unite Assume the perpetual inventory system is used. Required: 1. Compute gross profit for the month of January for Laker Company for the four inventory methods. 2. Which method yields the highest gross profit? 3. Does gross profit using weighted average fall between that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest gross profit? Complete this question by entering your answers in the tabs below. Req 1 Reg 2 to 4 Compute gross profit for the month of January for Laker Company for the four inventory methods. Note: Round cost per unit to 2 decimal plates and final answers to the nearest whole dollars LAKER COMPANY For Month Ended January 31 Specifie identification Weighted Average FIFO LIFO Sales Cost of goods sold Gross profit $ 0 $ 05 0 $ Req 2 to 4 > equired information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. For specific identification. ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date January 1 Activities Beginning inventory 140 units Units Acquired at Cost $ 6.00- Units sold at Retail 5.040 January 10 January 20 Sales 100 units $ 15 Purchase 60 units $5.00 - 300 January 25 Sales 80 units 5 15 January 30 Purchase Totals 180 units 300 units $4.50- 810 $1,950 180 units Assume the perpetual inventory system is used. Required: 1. Compute gross profit for the month of January for Laker Company for the four inventory methods. 2. Which method yields the highest gross profit? 3. Does gross profit using weighted average fall between that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest gross profit? Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 4 2. Which method yields the highest gross profit? 3. Does gross profit using weighted average fall between that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest gross profit? 2. Which method yields the highest gross profit? 3. Does gross profit using weighted average fall between that using FIFO and LIFO? 4 If costs were rising instead of falling, which method would yield the highest gross profit? < Roq 1 Reg 2 to 4 y