Required information [The following information applies to thequestions displayed below.] Laker Company reported the followingJanuary purchases and sales data for its only product. DateActivities Units Acquired at Cost Units sold at Retail Jan. 1Beginning inventory 140 units @ $ 6.00 = $ 840 Jan. 10 Sales 100units @ $ 15 Jan. 20 Purchase 60 units @ $ 5.00 = 300 Jan. 25 Sales80 units @ $ 15 Jan. 30 Purchase 180 units @ $ 4.50 = 810 Totals380 units $ 1,950 180 units The Company uses a perpetual inventorysystem. For specific identification, ending inventory consists of200 units, where 180 are from the January 30 purchase, 5 are fromthe January 20 purchase, and 15 are from beginning inventory.Required: 1. Complete comparative income statements for the monthof January for Laker Company for the four inventory methods. Assumeexpenses are $1,250, and that the applicable income tax rate is40%. (Round your Intermediate calculations to 2 decimalplaces.)
