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ooooo AT&T "3 10237 PM ezto.mheducation.com Financial Accounting 6th Ed: Fall 113 Sec 2 [ACCOUNTING a n d 3 Exam 2 Bonus instruction: !1 if, ', [ 5 value: 6.50 points Exercise 5-15A Periodic: Cost flow assumptions LO P3 Flora's Gifts reported the following current-month data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 84 units-62 units from the January 6 purchase, and 22 units from the January 25 purchase. Jan. 1 Beginning inventory 195 units @ $4.40 = $ 858.00 Jan. 6 Purchase 374 units @ $4.00 = 1,496.00 Jan. 17 Purchase 600 units @ $3.50 = 2,100.00 Jan. 25 Purchase 34 units @ $3.20 = 108.80 Totals 1,203 units $4,562.80 Required: Determine the cost assigned to ending inventory and to cost of goods sold for the following. (Round your answer to the nearest whole number.) - Ending -- Cost of Goods Inventory (a) 1 Specific identification A (b) 1Weighted average 4 (c) 1FIFO (d) lLIFO l --4--1 Which method yields the lowest net income? O Specific identification O LIFO O Weighted average v FIFO Hints References eBook & Resources Hint #1 Check my work