Required information (The followitg information ogplies to the cuestions displayed bolow) Laker Company reported the following January purchases and sales data for its orly product. For specific Laker Compary reported the folowing sanuary purchases and sales dota for us orly product. For spesinc purchsse, and 15 units from beginning irvernery Assume the pericdic inventory system is used. Required: 1. Compute gross grofit for the month of January for Laker Company for the four inventory methods using the periodic inventory system 2. Which method yelos the highest gross profts? 3. Dees gross profit using weighted everage fall between that using FFO and UFO? 4. If costs were rising instead of falling, which method would yeld the highest gress profit? Complete this question ty entering vour answers in the tabs belew. Compute gress gront for tht month of January for Laker Company for the four iventary methods uwh the peciodic wentary system. Motem. Hoter Round cout per unit to 2 decimal plecet and final answers to the neerest whele deiars. Assume the periodic irwentory system is used. Required: 1. Compuse gross peofit for the month of January for Laker Company for the four inventory metheds ising the pericdle imventory system 2. Which inethod yieids the highest gross profit? 3. Does gross profit using welghted average tall between that using FFO and LFO? 4. If costs were rising insteat of falling. Which method would yield the highest gross profit? Cemplete thit question by entering yeur antwers in the tabs belew. Compute gross peofit for the manth of Janaty for Laver Compeny for the four inventery methofs uting the peribic imentory system Nesef Round cost per unit to 2 decimal pleces and that answers to the mearest whole dobiars. Assume the periodic inventory system is used. Required: 1. Compute gross profit for the month of January for Laker Company for the four inventory methods using the periodic imventory system. 2. Which method yields the highest gross profit? 3. Does gress profit using weighted average foll between that using FFFO and LIFO? 4. If costs were rising instead of falling. Which method would yleid the highest gross profit? Complete this question by entering your answers in the tabs below. 2. Which method yields the highest gross protit? 3. Does grass proft using welghted average fall between that using firo and uro? 4. If costs were rising insteed of falling, which method would yield the fighest gross profit