Flora's Gifts reported the following current-month data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 94 units67 units from the January 6 purchase and 27 units from the January 25 purchase.

Jan.	1	Beginning inventory	220	units	@ $4.80	=	$	1,056.00
Jan.	6	Purchase	396	units	@ $4.40	=		1,742.40
Jan.	17	Purchase	625	units	@ $4.00	=		2,500.00
Jan.	25	Purchase	39	units	@ $3.70	=		144.30
		Totals	1,280	units			$	5,442.70

(a-d) 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 nearest whole dollar.)

(e) Which method yields the lowest net income? multiple choice

• Specific identification

• FIFO

• LIFO

• Weighted average