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 390 units130 from each of the last three purchases. Jan. 1 Beginning inventory Mar. 7 Purchase July 28 Purchase Oct. 3 Purchase Dec. 19 Purchase Totals 230 units @ $3.20 500 units @ $3.75 1,140 units @ $3.70 1,020 units @ $4.60 440 units @ $4.10 3,330 units = $ 736 = 1,875 = 4,218 = 4,692 = 1,804 $ 13,325 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 $ 1,612.00 $ 1,516.00 $ 1,599.00 $ 1,362.25 Cost of Goods Sold $ 11,713.00 $ 11,765.00 $ 11,726.00 $ 11,962.50 Which method yields the highest net income? Specific identification FIFO LIFO Weighted average