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.

$\backslash$table$[[$Skipped$,$January $1,$Beginning inventory,$260$ units,$($C$)$ $$4\mathrm{.}40,=,$$$1,144$