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 360 units—120 from each of the last three purchases.

January 1 Beginning inventory 220 units $2.80 = $ 616
March 7 Purchase 480 units $3.25 = 1,560
July 28 Purchase 1,120 units $3.30 = 3,696
October 3 Purchase 1,000 units $3.60 = 3,600
December 19 Purchase 400 units $3.70 = 1,480
Totals 3,220 units $ 10,952
(a-d) Determine the cost assigned to ending inventory and to cost of goods sold for the following. Specific Identification, weighted average, Lifo, Fifo

(e) Which method yields the highest net income?