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 Date Activities Jan. 1 Beginning inventory Jan, 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost 145 units @ $7.00 $1,015 70 units @ $6.00- 420 190 units@ $5.50-1,045 405 units Units sold at Retail $2,480 105 units @ $16.00 85 units $16.00 190 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 215 units, where 190 are from the January 30 purchase. 5 are from the January 20 purchase, and 20 are from beginning inventory Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,300 and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.) LAKER COMPANY Income Statements For Month Ended January 31 Specific Identification Weighted Average FIFO LIFO Sales Cost of goods sold Gross profit 0 0 o 0 Expenses Income before taxes 0 0 0 0 Income tax expense Net income i $ 05 05 05 0 OD < Prev 82 of 6 Next >>