Chapter 5 Homework Saved Help Save & Exit Submit You received partial credit in the previous attempt. Check my work View previous attempt 5 Laker Company reported the following January purchases and sales data for its only product. Activities Units Acquired at Cost Units sold at Retail 155 units@ $8.00 $1,24e Date Beginning inventory Jan. 1 40 Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 115 units $17.00 points 90 units@ $.7.00-630 95 units @ $17.0e 210 unitsa $6.501,365 455 units eBook Hint Print Totals $3,235 210 units Mc Graw Prev5 of 5 Next> Chapter 5 Homework Saved Help Save & Exit Submit You received partial credit in the previous attempt. Check my work View previous attempt 5 The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 245 units, where 210 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory 40 points Exercise 5-4 Perpetual: Income effects of inventory methods LO A1 eBook Required: Hint 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,400, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.) Print References LAKER COMPANY Income Statements Mc Graw Hill Prev5 of 5 Next Chapter 5 Homework Saved Help Save & Exit Submit You received partial credit in the previous attempt. Check my work View previous attempt Required information 1. Compiete comparative income statements Tor tne montn of January tor Laker Company ror tne Tour inventory methods. Assume expenses are $1,400, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.) 40 points LAKER COMPANY Income Statements For Month Ended January 31 eBook Hint Specific Identification Weighted Average Print FIFO LIFO Sales Cost of goods sold Gross proft Expenses Income before taxes 3,570 1,595 1,975 1,400 575 3,570 S 1,865 1,705 1,400 3,570 3,570 1,590 1,980 1,400 580 References 1,625 1,945 1,400 545 305 Mc Graw Hill Prev5 of 5 Next Chapter 5 Homework Saved Help Save & Exit Submit You received partial credit in the previous attempt. Check my work View previous attempt Required information Income Statements 40 points For Month Ended January 31 Specific Weighted Average Identification FIFO LIFO Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income 3,570 1,595 1,975 1,400 575 230 3,570 S 1,865 1,705 1,400 3,570 1,625 1,945 1,400 545 218 3,570 1,590 1,980 1.400 580 232 348 eBook Hint Print 305 References 345 $ 305 S 327 $ Mc Graw Hill Prev5 of 5 Next