Lopez Co. had three major business transactions during 2022 In each situation, identify the assumption or principle that has been violated. (a) (b) 23 (c) Reported at its fair value of $260,000 merchandise inventory with a cost of $208,000. The president of Lopez Co., Victor Lopez, purchased a truck for personal use and charger Lopez Co. wanted to make its 2022 income look better, so it added 2 more weeks to its i period la 54-week year). Previous years were 52 weeks.