Required Information The following information applies to the questions displayed below Lakes 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 200 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory Date Activities Units Acquired at Cost Units sold at Retail January Beginning inventory 150 units 7.50 $ 1.125 January 10 Sales 112 units 16.50 January 20 Purchase su units 3.50 January 25 Sales ve units 5 16.50 January 3 Purchase 200 units 5 bed 1. Totals 430 units 12.45 200 units 20 Required: 1. Compute gross profit for the month of January for Loker Company for the four riventory 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? MAN TW 2 1615 Purch ter 70 10 Required: 1. Come on two of us for Late Company for the country 2 which metod yr et gross pro a. Does gros oed vegetalent FFOLFOM 4. Colegiod offling, which mood would yold highest gros Complete the big up answers the below WA che la company CONRY MAAL HO Cou Reg254