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Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Laker Company reported the following January
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 215 units $14.00$3,010 165 units @ $23.00% 160 units $13.002,080 190 units $23.00 330 unitse $12.504.125 705 units Totals $9,215355 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 350 units, where 330 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Exercise 5-4 Perpetual: Income effects of inventory methods LO A1 Required: 1. Complete comparative income statements for the month of January for Laker Company for the four invent methods. Assume expenses are $2,000, and that the applicable income tax rate is calculations to 2 decimal places) 40%. (Round your interm
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