please answer with correct calculations and explanations. make sure supporting statements are also provided for each step and calculation.

 

 

Flora's Gifts reported the following current-month data for its only product. The company uses a periodic inventory system, and itsending inventory consists of 60 units-50 units from the January 6 purchase and 10 units from the January 25 purchase.January 1Beginning inventory138 units@ $3.00$ 414January 6Purchase300 units@ $2.80840January 17Purchase540 units@ $2.301, 242January 25Purchase22 units@ $2.0044Totals1, 000 units$ 2,540(a-d) Determine the cost assigned to ending inventory and to cost of goods sold for the following.(e) Which method yields the lowest net income?Complete this question by entering your answers in the tabs below.Req A to DReq EDetermine the cost assigned to ending inventory and to cost of goods sold for the following.Note: Do not round intermediate calculations and round your answers to nearest whole dollar.EndingCost of GoodsInventorySold(a) Specific identification(b) Weighted average(c) FIFO(d) LIFO