assumptions EIRO, LIFO, and weighted average using a periodic The following data are available for Sellco for the fiscal year ended on Cost flow assun system The fo January 31, 2017: Problem 5.34 LO 7,8 Sales ...... Beginning inventory ....... Purchases, in chronological order.... . . .. 3.200 units 1.000 units @ $8 1.200 units @ $10 1.800 units @ $12 800 units $16 Required: a. Calculate costi culate cost of goods sold and ending inventory under the following cost flow assumptions (using a periodic inventory system): 1. FIFO. 2. LIFO