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+22 Required information The following information is to the questions displayed below) Laker Company reported...

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Accounting

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+22 Required information The following information is to the questions displayed below) Laker Company reported the following January purchases and sales dates for its only product The Company uses periodie inventory system for specific identification, ending inventory consists of 420 units, where 400 are from the January 30 purchases are from the January 20 purchase, and 15 are from beginning inventory Date ACTIVE Acquired Cost Jan. 1 Beginning Inventory 230 units 515.50 53.565 Jan. 10 Sales 100 units $24.50 Jan. 20. Purchase 190 units 514.50 2.755 Jan. 25 Sales 220 units 524.50 Jan. 30 Purchase 400 units 514.00 5.600 Totats 820 units $11.920 400 units ces Required 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $2.150, and that the applicable income tax rate is 40% (Round your average cost per unit to 2 decimal places.) LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO 0 0 0 0 Sales Cost of goods sold Gross profit Exponses Income before taxes Income tax expense Net income 0 0 O $ 0 $ 0 $ 0 $ 0

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