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 585 units195 from each of the last three purchases.

Determine the cost assigned to ending inventory and to cost of goods sold for the following. (Do not round weighted average per unit costs and round your answers to 2 decimal places.)

Which method yields the highest net income?

	Weighted average
	Specific identification
	LIFO
	FIFO

Jan. 1 Beginning inventory Mar 7 Purchase July 28 Purchase Oct. 3 Purchase Dec. 19 Purchase 295 units @ $5.80 = $ 1.711 630 units$7.004,410 1.270 units @ $6.30= 8.001 1.150 units @ $8.50-9.775 700 units @ $8.60= 6.020 Totals 4,045 units $29,917