Laker Company reported January purchase and sales data for its only product. The company uses a perpetual inventory system. Ending inventory consisted of 180 units from a January 30th purchase, 5 units from January 20th, and 15 units from beginning inventory. The document provides this information to answer questions about calculating gross profit for different inventory methods and determining which method provides the highest profit.

1. Required information [The following informition ipplies to the questions displayed beiows]
Laker Company seported the following January parchases and seles data for its on y product. The
Company ises a perpetoal mientory system, For specific identification, ending inventory consists
of 180 units fromi the fancaly 30 purchase. 5 units fiom the January 20 paitchase, and 15 units
from beginnang irventoty. 1. Compute gross protit for the month of Januacy for Laker Company
for the four imentory methods. 2. Which method yields the highest gross profit? 3. Does gross
pacft esing welghted average fall between that using FFO and LIFO? 4. Il costs were rising
instead of faling. vilich inethod would yleld the highest gross profit? Complete this question by
cutering your answers in the tabs thelow. Required informetion (The following intormation
applies to the questions displayed belows] Laker Company reported the following January
purchases and sales data for its only product. The Company uses. a perpetual inventory systen.
For specific idenbication, ending inventory consists of 180 units from the January 30 purchase. 5
units from the January 20 purchase, and 15 units from beginning inventory. 1. Compute gross
profit for the month of January tor Laker Company for the four inventory methods. 2. Which
method yields the hlghest oross profit? 3. Does gross profit using weighted averege fall between
that using FIFO and LFO? 4. If costs were ising instead of falling. Which method would yield
the highest grots profit? Complete this question by enterind your answers in the tabs below. 2.
Which method vields the wighent gross irofit? 3. Wich mectiod yielas the highent aross irronit?
4. If corts were fising ingtwad of fatl n , which method wosid yiets the highest gress pecfie? 2.
Which mothod yolds the highest ovoss froth 3. Does giobs prott isicg at yothed are oog tall
betwien that ising fifo and UFO?