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The following information applies to the questions displayed below.] Laker Company reported the following January...

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Accounting

The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product.

Date Activities Units Acquired at Cost Units sold at Retail
Jan. 1 Beginning inventory 170 units @ $ 9.50 = $ 1,615
Jan. 10 Sales 130 units @ $ 18.50
Jan. 20 Purchase 120 units @ $ 8.50 = 1,020
Jan. 25 Sales 130 units @ $ 18.50
Jan. 30 Purchase 240 units @ $ 8.00 = 1,920
Totals 530 units $ 4,555 260 units

The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 270 units, where 240 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory.

Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,550 and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.)

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