fileM/home/chronos/u 85e4d13e1f5f79c17331679e7acff44938753b65/Downloads/Fundamenta." Q N teo4 000. : : Exercise 6-14A Periodic: Cost flow assumptions P3 Lopez Company reported the following current-year data for its only product. The company uses a peri- odic inventory system, and its ending inventory consists of 150 units-50 from each of the last three pur chases. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Round per unit costs and inventory amounts to cents.) Which method yields the highest net income Jan. 1 Beginning inventory Mar. 7 Purchase July 28 Purchase.... Oct. 3 Purchase ...4.... 96 units $2.00-S192 220 units $2.25 495 544 units $2.50 1,360 480 units @ $2.80 1.344 .. 160 units @ $2.90- 464 $3,855 Check Inventory, LIFO, $313.50, FIFO, $43500 Totals 1,500 units