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Lopez Co. reported the following current-year data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 405 units—135 from each of the last three purchases.






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 330 units—110 from each of the last three purchases.





opez Company reported the following current-year data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 330 units—110 from each of the last three purchases.

Jan. 1 Beginning inventory 235 units @ $3.40 = $ 799
Mar. 7 Purchase 510 units @ $4.00 = 2,040
July 28 Purchase 1,150 units @ $4.60 = 5,290
Oct. 3 Purchase 1,030 units @ $4.90 = 5,047
Dec. 19 Purchase 460 units @ $5.00 = 2,300

Ending Inventory Cost of Goods Sold
(a) Specific identification $1,027.00
(b) Weighted average
(c) FIFO
(d) LIFO

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