Required information Use the following information for the Exercises 3.7 below. (Algo) (The following information applies to the questions cisplayed bolow] Laker Compary reported the following January purchases and sales data for its anly product. The Company uses a petiodic inventory system. For specific identification, ending inventory consets of 206 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 21 are from begirining inventory: Exercise 5.7A (Algo) Perpetual: Gross profit effects of inventory methods LO P3, A1 Requined: Compute gross profis for the month of January for Lador company for the foiar inveantory metheds. Which misthod yelat the higheit ajoss profid? Obes aross ptotit cesing wsyghted iverisge fial betwoen that using fFO and UFO? If conts were phing inotead of filling, which method woda yletd the highest gross prodit? Comptefe this guention by entering your answers in the tabs belaw: Exercise 5-7A (Algo) Perpetual: Gross profit effects of inventory methods LO P3, A1 Required: Compute gross profit for the month of January for Laker Compony for the four inventory methods: Which method yelds the highest gross profit? Does gross profit using weighted average fall between that using FIFO and UFO? If cpats were rising instead of fafling, which method would yletd the highest gross proft? Compiete this question by entering your answers in the tabs below. Compute uross profit for the month of lanuary tor Laker company for tie four inventory methods. Fhori Aogald cout per iunit to 2 decomal places and linal onvwers to the pearst whole dollars Exercise 5-7A (Algo) Perpetual: Gross profit effects of inventory methods LO P3, A1 Required; Compute gross profit for the month or January for Laker Compory for the four imwentory methods. Which method yelds the highest gross profit? poes gross piofit using welghited average fall between that using HFO and UFO? if costs wore tising insteod of falling. which method would yield the highest gross protit? Complete this gunstion by entering your answers in the tabs below. 2. Which method yatlis the tiighest groas profic? 3. Does groes profit ising weighted average fall between that using FiFo and ufo? 4. If costs were nsing instead of falling, which methind would yield the highest groseprofit