Question: Help Lopez Company reported the following current year data for its only product. The company uses a periodic inventory system, and its ending inventory consists
Help 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 Jan. Beginning inventory ar. 7Purchase uly 28 Parchase Oct. 3 Parchase eo. 19 Parehase 260 unitS$4-401,144 560 unita s5.25 2,940 1,200 wmits $4.905,880 1,080 units $5.205,616 340 units. 16.50 3,640 s 19,220 totals Determine the cost assigned to ending inventory and to cost of goods sold for the followling. (Do not round intermediate calculations and round your answers to 2 decimal places.) (b)Weighted c) FiFO (d) LIFO Which method yields the highest net income? Specific identification FIFO LIFO Weighted average C G Search or type URL
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