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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

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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 480 units-160 from each of the last three purchases. January 1 March 7 July 28 October 3 Beginning inventory Purchase Purchase Purchase December 19 Purchase Totals 260 units @ $4.40 560 units @ $5.25 1,200 units @ $4.90 1,080 units @ $5.20 560 units @ $6.50 3,660 units $ 1,144 2,940 5,880 5,616 3,640 $ 19,220 (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.) Ending Inventory Cost of Goods Sold (a) Specific identification (b) Weighted average (c) FIFO (d) LIFO < Req A to D Req E >

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