Sentaro Company sells luxury clothing goods. The following information is available from the company$$s inventory record for Product X$.$

Date Units Unit Cost

January $1$ Beginning inventory $1600$ $$18$

January $5$ Purchases $2600$ $$20$

January $25$ Purchases $2400$ $$21$

February $16$ Purchases $1000$ $$22$

March $15$ Purchases $1800$ $$23$

A physical inventory on March $31,2022,$ shows $2,500$ units on hand.

Instructions:

a$)$ Assume the company uses the FIFO method, calculate the amount assigned to ending inventory on hand at March $31,2022.($Show computations$)$

b$)$ Assume the company uses the weighted average method, calculate the amount assigned to ending inventory on hand at March $31,2022.($Show computations$)$ c$)$ Under which method would Net Income for the company be highest, and why?