Sales 1600 units Beginning Inventory 500 units @$4 purchases, in chronilogical order 600 units @$5 800 units @$6 400 units @$8 A. Calculate cost of goods sold and ending inventory under the following cost flow assumptions ( using a periodic inventory system): 1. FIFO 2. LIFO 3. Weighted average. Round the unit cost answer to two decimal places and ending inventory to the nearest $10. B. Assume that net income using the weighted-average cost flow assumption is $58,000. Calculate net income under FIFO and LIFO