The following information apolles to the questions displayed below!

Laker Company reported the following Jamuary purchases and sales data for its pnly product. Fios specific identification, ending inventory consists of $300$ units from the January $30$ purchase $5$ unis fiom the lanuary $20$ purchase, and $25$ units from beginning inventory.

$\backslash$table$[[$Date$,$Activities,Units,$AC1,$uired at $E$ :$,,$Units:s$,$at$,$letail$],[\backslash$table$[[$Tanuary $1],[3$anuary $16]],\backslash$table$[[$Geginning inventory$],[$Sales$]],200$ units,fi$,512,50=,4.2,504,,,],[$January $20,$Purchase,$138$ units,$(1),$$$1150=,1,495,,,],[\backslash$table$[[$January $2],[$Jenuary $30]],\backslash$table$[[$Sales$],[$Purchase$]],30$a units,e$,$$$11,60,3,3000,1$se units,g$,5121\mathrm{.}58],[,$Totals,$63$a units,,,$18,299,300$ units,,$]]$

Assume the perpetual inventory system is used.

Required:

Compute gross profit for the month of January for Laker Company for the four inventory methods

Which method yields the highest gross profit?

Does gross profit using weighted average fall between that using FIFO and LIFO?

If cosis were rising instead of falling, which method would yicid the highest gross profit?

Complete this question by entering your answers in the tabs below.

Compute gross profit for the month of January for Laker Company for the four imentory methods.

Note: Round cost per unit to $Z$ decimal places and final answers to the nearest whole dollars

$\backslash$table$[[$LAKER COMPANY$],[,$For Month Ended January $31,,,],[,\backslash$table$[[$Specilic$],[$Identification$]],\backslash$table$[[$Weighted$],[$Averege$]],$FIFO,LIFO$],[$Sales$,5,6,450,5,6\mathrm{.}450,5,6\mathrm{.}450,5,6\mathrm{.}450],[$Cost of goads sald,,$3,625,,,,,,],[$Gross proft,$$,2\mathrm{.}825,5,6\mathrm{.}450,5,6.450,5,6\mathrm{.}450]]$