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 150 units-50 from each of the last three purchases. Jan. 1 Beginning inventory Mar. 7 Purchase July 28 Purchase Oct. 3 Purchase Dec. 19 Purchase Totals 96 units @ $2.00 = $ 192 220 units @ $2.25 = 495 544 units @ $2.50 = 1,360 480 units @ $2.80 = 1,344 160 units @ $2.90 = 464 1,500 units $3,855 Determine the cost assigned to ending inventory and to cost of goods sold for the following. (Do not round intermediate calculations and round your answers to 2 decimal places.) Ending Inventory Cost of Goods Sold (a) Specific identification (b) Weighted average (c) FIFO (d) LIFO Which method yields the highest net income? Specific identification LIFO Weighted average FIFO