TONIN Question 10 of 11 -/1 E View Policies Current Attempt in Progress Lopez Co. had three major business transactions during 2022. In each situation, identify the assumption or principle that has been violated. (a) V (b) Reported at its fair value of $260,000 merchandise inventory with a cost of $208,000, The president of Lopez Co., Victor Lopez, purchased a truck for personal use and charg Lopez Co wanted to make its 2022 income look better, so it added 2 more weeks to its period (a 54-week year). Previous years were 52 weeks. (c) e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Later