! Required information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 260 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Date January 1 January 10 January 20 January 25 January 30 Activities Beginning inventory Sales Purchase Sales Purchase Totals Units Acquired at Cost 170 units @ $9.50 = @ @ 120 units 260 units 550 units $8.50 = $ 8.00 = $ 1,615 1,020 Complete this question by entering your answers in the tabs below. 2,080 $ 4,715 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? Units sold at Retail 130 units 130 units 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? 260 units @ $ 18.50 $ 18.50

Required information [The following information applies to the questions displayed below] taker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 260 units from the January 30 purchase, 5 unts from the Jartuary 20 purchase, and 25 units from beginning inventory. 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 befween that using FFO and LFO? 4. If costs wete nsing instead of falling. which method would yieid the highest gross profit? Complete this question by entering your answers in the tabs below. Required information Complete this question by entering your onswers in the tabs below. Compute gross profit for the month of Jarwary for Laker Company for the four inventory methods. (Round cost per unit to 2 decimal places and final answers to the nearest whole dollars.? Complete this question by entering your answers in the tabs below. 2. Which method yields the highest gross profit? 3. Does gross profit using weighted average fall between that using FIFO and UFO? 4. If costs were rising instead of falling, which method would yield the highest gross profit? ATV Company began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 1. Compute the cost assigned to ending inventory using FIFO 2. Compute the cost assipned to ending irventory using LiFO. 3. Compute the cost assigned to ending imventory using Weighted Average- Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using welghted Awerage. (Round your average cost per unit to 2 decimal placess) 1. Compute the cost assigned to ending inventory using FIFO 2. Compute the cost assigned to ending inventory using LIFO. 3. Compute the cost assigned to ending inventory using Weighted Average Complete this question by entering your answers in the tabs below. Compute the cost asslgned to ending inventory using Fifo. 1. Compute the cost assigned to ending irventory using FFFO. 2. Compute the cost assigned to ending inventory using UFO 3. Compute the cost assigned to ending inventory using Weighted Average Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending invertory using LIF