Lopez Company reported the following current-year data for its only product. The company uses a periodic inventory system, a ending inventory consists of 600 units-200 from each of the last three purchases. January 1 Beginning inventory March 7 Purchase July 28 Purchase October 31 Purchase December 19 Purchase Totals 300 units @ $6.00 640 units @ $6.25) 1,280 units @ $6.50 1,160 units @ $7.00 720 units @ $8.90 4,100 units $ 1,800 4,000 8,320 8,120 6,408 $28,648 (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? Complete this question by entering your answers in the tabs below. Req A to D Req E 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.) (a) Specific identification (b) Weighted average (c) FIFO (d) LIFO Ending Inventory Cost of Goods Sold RegE > nces Lopez Company reported the following current-year data for its only product. The company uses a periodic inventory system, ar ending Inventory consists of 600 units-200 from each of the last three purchases. January 1 March 7 July 28 Beginning inventory Purchase Purchase October 31 Purchase December 19 Purchase Totals. 300 units @ $6.00 640 units @ $6.25 1,280 units @ $6.50 1,160 units @ $7.00 720 units @ $8.90 4,100 units $ 1,800 4,000 8,320 8,120 6,408 $ 28,648 (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? Complete this question by entering your answers in the tabs below. Req A to D Req E Which method yields the highest net income? Which method yields the highest net income? < Req A to D RegE> Flora's Gifts reported the following current-month data for its only product. The company uses a periodic inventory syster ending inventory consists of 63 units-51 units from the January 6 purchase and 12 units from the January 25 purchase. January 1 Beginning inventory January 6 Purchase January 17 Purchase January 25 Purchase Totals 145 units @$3.50 NO $ 507.50 303 units $2.80 550 units @$2.50 848.40 1,375.00 24 units @ $2.20 1,022 units E 52.80 $ 2,783.70 (a-d) Determine the cost assigned to ending inventory and to cost of goods sold for the following. (e) Which method yields the lowest net income? Complete this question by entering your answers in the tabs below. Req A to D Req E 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.) (a) Specific identification (b) Weighted average (c) FIFO) (d) LIFO Ending Inventory Cost of Goods Sold. Req E > es Flora's Gifts reported the following current-month data for its only product. The company uses a periodic Inventory system, and ending Inventory consists of 63 units-51 units from the January 6 purchase and 12 units from the January 25 purchase. January 1 Beginning inventory January 6 Purchase January 17 Purchase January 25 Purchase Totals 145 units @$3.50 303 units @$2.80 550 units $2.50 24 units $2.20 $ 507.50 848.40 1,375.00 52.80 $ 1,022 units 2,783.70 (a-d) Determine the cost assigned to ending inventory and to cost of goods sold for the following. (e) Which method yields the lowest net income? Complete this question by entering your answers in the tabs below. Req A to D Req E Which method yields the lowest net income? Which method yields the lowest net income? < Req A to D Martinez Company's ending inventory includes the following items. Market per Cost per Unit Product Helmets Bats Units Unit 28 $ 56 $ 60 21 84 78 Shoes 42 Uniforms 46 101 42 97 42 Compute the lower of cost or market for ending inventory applied separately to each product. Per Unit Total Inventory Items Units LCM Applied to Cost Market Cost Market Items Helmets 28 $ 56 $ 60 Bats 21 84 78 Shoes 42 101 97 Uniforms 46 42 42 $ 0 $ 0 Drott