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Saved ork 6 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. Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 175 unitse $10.00 $1,750 Jan.10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 135 units $19.00 30 units $ 9.00 1,170 140 units 19.00 250 units 8.50 2 125 Totals 555 units $5,045 275 units The Company uses a perpetual inventory system. For specific identification, ending inventory consi 250 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from begim Exercise 6-4 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 inve expenses are $1,600, and that the applicable income tax rate is 40%. (Round your Intermediate calculati LAKER COMPANY Income Statements For Month Ended January 31 SpecificWeighted 250 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory Exercise 6-4 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 $1600, and that the applicable income tax rate is 40% (Round your intermediate calculations to 2 decimal places Income Statements For Month Ended January 31 Specific Weighted FIFO LIFO Sales Cost of goods sold Gross proft Income before taxes Income tax expense Net income of till Next > 2 MacBook Air

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