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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 150
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 150 units-50 from each of the last three purchases. January 1 Beginning inventory 96 units $2.00 $ 192 March 7 Purchase zze units @ $2.25 495 July 28 Purchase 544 units @ $2.5e 1,360 October 3 Purchase 480 units @ $2.89 1,344 December 19 Purchase 160 units @ $2.90 454 Totals 1,500 units $ 3,855 {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? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg A to D Reg 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 Cost of Goods Inventory Sold (a) Specific identification 410.00 S 3,445.00 (b) Weighted average 403.51 x S 3,421,65 (c) FIFO 435.00 3,420.00 (d) LIFO 410.00 3,445.00 $ S $ S S $ RegE>
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