Exercise $5-14($Algo$)$ Periodic: Cost flow assumptions LO P$3$

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 $480$ units$160$ from each of the last three purchases.

January $1$ Beginning inventory $260$ units @ $$4\mathrm{.}40=$ $ $1,144$

March $7$ Purchase $560$ units @ $$5\mathrm{.}25=2,940$

July $28$ Purchase $1,200$ units @ $$4\mathrm{.}90=5,880$

October $3$ Purchase $1,080$ units @ $$5\mathrm{.}20=5,616$

December $19$ Purchase $560$ units @ $$6\mathrm{.}50=3,640$

Totals $3,660$ units $ $19,220$

$($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?