Laker company reported the following january purchases and sales data for its only product: date activites units acquired at cost units sold at retailjan. 1 beginning inventory 180 units @ $10.50 = $1,890 jan. 10 sales 140 units @ $19.50jan. 20 purchase 110 units @ $9.50 = 1,045 jan- 25 sales 150 units @ $19.50jan 30 purchase 260 units @ $9.00 = 2,340 totals 550 units - $5,275 270 unitsthe company uses a perpetual inventory system. for specific identification, ending inventory consists of 280 units, where 260 are from the january 30 purchase. 5 are from the january 20 purchase, inventory al inventory system. required1. complete comparative income statements for the month of january for laker company for the four inventory methods. assume expenses are s1.650, and that the applicable income tax rate is 40%. (round your intermediate calculations to 2 decimal places.)2. which method yields the highest net specific weighted fifo3. does net income using weighted average fall between that using fifo and lifo?