31 Exercise 6-14A (Algo) Periodic: Cost flow assumptions LO P3 7 points Suipped Lopez Company reported the following current year data for its only product. The company uses a periodic inventory system, and its ending Inventory consists of 585 units-195 from each of the last three purchases January 1 Beginning Inventory 295 units 55.00 $ 1,711 March Purchase 630 units $7.00 4.410 July 20 Purchase 1,270 units 56.30 8,001 October 3 Purchase 1,150 units $8.50 9.775 December 19 Purchase 700 units $8.60 6,020 Totals 4,045 units $ 29,917 eBook (a-d) Determine the cost assigned to ending Inventory and to cost of goods sold for the following (e) Which method yields the highest net income? Complete this question by entering your answers in the tabs below. Print References Req Ato D Req Determine the cost assigned to ending inventory and to cost of goods sold for the following. (Do not round Intermediate calculations and round your answers to 2 decimal places) Ending Inventory Cost of Goods Sold (a) Specific identification (b) Weighted average (c) FIFO d) UFO SA RegE> 31 Exercise 6-14A (Algo) Periodic: Cost flow assumptions LO P3 7 points Swed Lopez Company reported the following current year data for its only product. The company uses a periodic Inventory system, and its ending inventory consists of 585 units--195 from each of the last three purchases. January 1 Beginning inventory 295 unit 35.80 Mareh 31.711 Purchase 630 units 17.00 July 2 Purchase 4.610 1.270 L 56.30 #. 001 October Purchase 1.150 10.50 9,735 December 19 Purchase 700 LA 10.60 6,020 Total 4,045 Rita 120.919 (0-4) Determine the cost assigned to ending inventory and to cost of goods sold for the following (e) Which method yields the highest net income? Complete this question by entering your answers in the tabs below. Print RAD Req Meferences Which method yields the highest net income? Which method yields the highest reincome?