Units Acquired at Cost 150 units@ $7.50 = $1,125 Units sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units @ $16.50 80 units@ $6.50 520 90 units @ $16.50 200 units@ $6.00 = 1,200 430 units $2,845 200 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 230 units, where 200 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 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 inventory methods. Assume expenses are $1,350, and that the applicable income tax rate is 40% (Round your Intermediate calculations to 2 decimal places.)