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The following data are available for Sellco for the fiscal year ended on January 31, 2023 Sales 800 units Beginning inventory 220 units @
The following data are available for Sellco for the fiscal year ended on January 31, 2023 Sales 800 units Beginning inventory 220 units @ $4 Purchases, in chronological order 290 units @ $4 410 units $6 210 units $8 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 $12,500. 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 3,780 Required B >
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