Exercise 6-14A Periodic: Cost flow assumptions LO P3 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 450 units -150 from each of the last three purchases. Jan. 1 Beginning inventory Mar. 7 Parchase July 20 Purchase Oct. Purchase Dec. 19 Purchase Zotala 250 units. 54.00 - $ 1,000 540 units 56.25 - 2,295 1,180 units. $4.50 - 5,310 1,060 units 16.00 - 5.088 520 units. $5.90 - 3,550 units 516,762 to 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 Coat of Goods Sold (a) Specific identification b) Weighted average (0) FIFO (d) LIFO (e) Which method yields the highest net income? UFO Welchted average