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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

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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 purchases and sales data for its only product at Jam. 1 Beginning inventory 160 unitst $8.50 $1,360 Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan.30 Purchase 120 units $17.50 100 unitst $7.50-750 120 unita $17.50 220 unite $7.00-1 540 480 unita Totals 3,650240 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 240 units, where 220 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: L Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,450, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places) For Month Ended January 3f1 Specific Weighted Cost of goods sold c Prev 79 I Next >

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