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Exercise 6-2 Inventory costs LO C2 Walberg Associates, antique dealers, purchased goods for $38,600. Terms of the purchase were FOB shipping point, and the cost of transporting the goods to Walberg Associates's warehouse was $1,750. Walberg Associates insured the shipment at a cost of $260. Prior to putting the goods up for sale, they cleaned and refurbished them at a cost of $600. Determine the cost of inventory. Cost of inventory Total cost of inventory $ 0 Prey 1 of 5 Next > CAILIDE IM Fen vuil. LUSU TOW dasumpLIVIIS LUTS Lopez Company reported the following current-year data for its only product. The company uses a periodic inventory system, and i ending inventory consists of 510 units -170 from each of the last three purchases. Mar. Jan 1 Beginning inventory 7 Purchase July 28 Purchase Oct. 3 Purchase Dec. 19 Purchase Totals 270 units @ $4.80 = $1,296 580 units @ $5.75 = 3, 335 1, 220 units @ $5.30 = 6,466 1,100 units@ $5.60 = 6,160 600 units @ $5.80 = 3,480 3,770 units $ 20,737 (a-d) 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