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Exercise 5-14 (Algo) Periodic: Cost flow assumptions LO P3 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 units- 120 from each of the last three purchases (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. Dotermine the cost assigned to ending inventory and to cost of goods sold for the following. Note: Do not round intermediate calculations and round your answers to 2 decimal places: (e) Which method yields the highest net income? Complete this question by entering your answers in the tabs below. Which method yields the highest net income? Exercise 5-18 (Algo) Comparing LIFO numbers to FIFO numbers: ratio analysis LO A3 Cruz Company uses LiF O for inventory cosing and reports the following tinancial data it also recomputed inventory and cost of goods sold using FIFO for comparison purposes 1. Compute its curtent ratio, inventory turnovet, and days sales in invent ary for Xear 2 using (d) LIFO numbers and (b) FIFO numbers (b) Compute its current ratio, inventory turnove, and day? sales Ii inventory far Year 2 esing fifo mumberers: Exercise 5-14 (Algo) Periodic: Cost flow assumptions LO P3 Lopez Company reported the followng current-year data for its cely product. The company uses a periodic inventory system, and its ending inventocy consats of 360 units -120 from each of the last three purchases (6.d) Delesmine the cont uwgned to ending inventory and to cort of gocds eold for the following (e) Which method y elds the highed net income? Compiete this question by antering your answars in the tabs balow. Cetersere the coss assigned to onding niventory end to cost of goody sold for the following