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 360 units120 from each of the last three purchases. = 1,272 = 3,248 Jan. 1 Beginning inventory Mar. 7 Purchase July 28 Purchase Oct. 3 Purchase Dec. 19 Purchase Totals 220 units @ $2.40 480 units @ $2.65 1,120 units @ $2.90 1,000 units @ $3.60 400 units @ $4.10 3,220 units = 3,600 1,648 $ 10,288 (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 2 decimal places.) Ending Inventory Cost of Goods Sold (a) Specific identification (b) Weighted average (c) FIFO (d) LIFO (e) Which method yields the highest net income? OLIFO Specific identification O FIFO Weighted average