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. Date January 1 January 10 January 20 January 25 January 30 Activities Reginning inventory Sales 110 units Unite Acquired at Cost 190 units 57.00- $1,130 $6.00 150 unit Units sold at Retail e $ 16.00 130 unita $ 16.00 280 unita $ 5.50 - 1,540 Totala 580 unit $ 3,530 2010 unita Purchase Sales Purchase 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 L Req 2 to 4 Compute gross profit for the month of January for Laker Company for the four inventory methods. (Round cost per unit to 2 decimal places and final answers to the nearest whole dollars.) LAKER COMPANY For Month Ended January 31 Specific Identification Weighted Average FIFO LIFO Sale Coal of goods sold Gross proft $ 0 $