$!$ Assume the periodic inventory system is used.

Complete this question by entering your answers in the tabs below.

Req $2$ to $4$

Compute gross profit for the month of January for Laker Company for the four inventory methods using the periodic inventory

system.

Note: Round cost per unit to $2$ decimal places and final answers to the nearest whole dollars. Complete this question by entering your answers in the tabs below.

Req $1$

Req $2$ to $4$

Required information

Use the following information for the Exercises $3-7$ below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Laker Company reported the following January purchases and sales data for its only product. For specific identification,

ending inventory consists of $355$ units from the January $30$ purchase, $5$ units from the January $20$ purchase, and $15$ units

from beginning inventory.

Exercise $5-4($Algo$)$ Periodic: Gross profit effects of inventory methods LO P$1,$ A$1$