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Laker Company reported the following January purchase and sales data for its only product. For specific identification, ending inventory consist of 180 units from the January 30 purchase, five units from the January 20 purchase and 15 units from the beginning inventory. January 1 inventory 140 units at $6.00 = $840. January 10 sales 100 units at $15. January 20 purchase 60 units at five dollars equals $300. January 25 sales 80 units at $15. January 30 purchase 180 units at $4.50 equals $810 Totals 380 units and $1950 and 180 units. Assume the perpetual inventory system is used. Compute the gross profit for the month of January for Laker company for the four inventory methods. Which method yields the highest gross profit? Does grow Profit using weighted average fall between that using an FIFO LIFO? If were rising instead of falling, which method would yield the highest gross profit? Compute gross profit for the month of January for Laker Company for the four inventory method. Round cost per unit to two decimal places and final answers to the nearest whole dollars. And then answer the following questions which method yields the highest gross profit? Does gross profit using weighted average fall between that using FIFO And LIFO? if cost were rising instead of falling, which method would yield the highest gross profit? Laker Company for month-end January 31: Fill in specific identification and weighted average an FIFO LIFO for sales, cost of goods sold, gross profit.

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