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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.
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 an. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Activities Units sold at Retail 100 units $15 80 units e 15 Units Acquired at Cost 140 units $6.00$ 840 60 units $5.00300 180 units @ $4.50= 380 units 810 $1,950 180 units Totals The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 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 $1.250, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.)
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