The following data are available for Sellco for the fiscal year ended on January 31, 2020:

Sales	750	units
Beginning inventory	280	units	@	$	3
Purchases, in chronological order	300	units	@	$	5
	420	units	@	$	7
	240	units	@	$	7

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 enventory

FIFO

LIFO

Weighted Average

b. Assume that net income using the weighted-average cost flow assumption is $13,300. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)

NET INCOME

FIFO

LIFO