Sales Beginning inventory Purchases, in chronological order 1,600 units 500 units @ $4 600 units $5 800 units @ $6 500 units @ $8 Check my w Required: a. Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and weighted average (using a periodic inventory system): b. Assume that net income using the weighted-average cost flow assumption is $80,000. Calculate net income under FIFO and LIFO. Complete this question by entering your answers in the tabs below. Required A Required B Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and weighted average (using a periodic inventory system): Note: Round unit cost to 2 decimal places. FIFO LIFO Weighted average Cost of Goods Sold Ending Inventory