The following data are available for Sellco for the fiscal year ended on January 31, 2017: Sales Beginning inventory Purchases, in chronological order 800 units 280 units 350 units 450 units @ $4 @ $4 @ $6 @ $8 250 units 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): (Round unit cost to 2 decimal places.) Cost of Goods Sold Ending Inventory FIFO LIFO Weighted average b. Assume that net income using the weighted average cost flow assumption is $16,000. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.) Net Income FIFO LIFO