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	Units Acquired at Cost								Units sold at Retail
Jan.	1	Beginning inventory	185	units	@	$	11.00	=	$	2,035
Jan.	10	Sales										145	units	@	$	20.00
Jan.	20	Purchase	100	units	@	$	10.00	=		1,000
Jan.	25	Sales										125	units	@	$	20.00
Jan.	30	Purchase	270	units	@	$	9.50	=		2,565
		Totals	555	units					$	5,600		270	units

For specific identification, ending inventory consists of 285 units, where 270 are from the January 30 purchase, 5 are from the January 20 purchase, and 10 are from beginning inventory.

Required:

1. Prepare comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,700, and that the applicable income tax rate is 40%.