Required information [The following information applies to the questions displayed below] Laker Company reponted the following January purchases and sales data for its only product. For specific identification. ending inventory consists of 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Assume the perpetual inventory system is used: Required: 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 LFO? 4. If costs were rising instead of falling, which mothod would yield the highest gross profit? Complete this question by entering your answers in the tabs below. Compute gross profit for the month of January for Laker Company for the four inventory methods. Note: Round cost per unit to 2 decimal places and final answers to the nearest whele dollars 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 For specific identification, ending inventory consists of 200 unts from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory. Assume the perpetual inventery system is used. Required: 1. Compute gross profit for the month of January for Laket Company for the four invertory methods. 2. Which method yieids the highest gross profit? 3. Does gross profit using weighted average fall between that using FFO and UFO? 4. If costs were rising instesd of foling. which method would ylold the highest gross profit? 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 LFO? 4. If costs were rising instesd of falling, which method would yield the highest gross proft