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 280 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 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 between that using FiFO and LFFO? 4. If costs were rising instead of falling, which method would yieid the highest gross profit? Complete this question by entering your answers in the tabs below. 2. Which method yieids the highest gross profit? 3. Does gross proft using weighted average fall between that using firo and tron 4. If costs were rining instead of faling, which method would yeld the highest gross profit