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 201 January 25 January 30 Sales Purchase Sales Purchase Totals Activities Beginning inventory Units Acquired at Cost 190 units @$7.00= $ 1,330 110 units @$ 6.00 = Units sold at Retail 150 units $ 16.00 660 130 units @ $ 16.00 280 units 580 units. $ 5.50= 1,540 $ 3,530 280 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? 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 11 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