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 420 units -140 from each of the last three purchases Jan 1 Beginning inventory Mar 7 Purchase July 28 Purchase Oct. 3 Purchase Dec 19 Purchase Totals 2.40 units $3.60 5 364 520 units @ $4.25 2,210 1,160 units $4.10 - 4,756 1,000 units $4.40 4,576 480 units $4.60 2,208 3,440 units $ 14,614 (od) Determine the cost ossigned 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 ta) Specific identification (b) Weighted average (c) FIFO (d) LIFO (e) Which method yields the highest net income? Weighted average Specific identification FIFO 7 of 8 SHE Next >