7 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 600 units-200 from each of the last three purchases. 25 points Skipped January 1 March 7 July 28 October 3 December 19 Beginning inventory Purchase Purchase Purchase Purchase Totals Req A to D Complete this question by entering your answers in the tabs below. Req E 300 units @ $6.00 @ $6.25 @ $6.50 @ $7.00 @$8.90 (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? 640 units 1,280 units 1,160 units 720 units 4,100 units (a) Specific identification (b) Weighted average (C) FIFO (d) LIFO Ending Inventory Determine the cost assigned to ending inventory and to cost of goods sold for the following. Note: Do not round intermediate calculations and round your answers to 2 decimal places. Cost of Goods Sold $1,800 4,000 8,320

7 25 pos Skipped 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 600 units-200 from each of the last three purchases January 1 March 7 July 28 October 3 Beginning inventory Purchase Purchase Purchase December 19 Purchase Totals 300 units $6.00 640 units 56.25 1,280 units $6.50 1,160 units 857.00 720 units $8.90 4,100 units $ 1,800 4,000 8,320 8,120 6,405 $28,648 (e-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. Req A to D Determine the cost assigned to ending inventory and to cost of goods sold for the following. Note: Do not round intermediate calculations and round your answers to 2 decimal places a) Specific identification i Ending leventory Cost of Goods Sold b) Weighted average (c) FIFO LIFO ABD ReqE>