The document provides information about Laker Company's inventory and sales for January. It reports beginning inventory, purchases on January 20th and 30th, and ending inventory on January 31st. It asks to [1] compute gross profit for each inventory method (FIFO, LIFO, weighted average), [2] identify the highest gross profit method, [3] whether weighted average gross profit falls between FIFO and LIFO, and [4] the highest gross profit method if costs were rising instead of falling.