The following data are available for Sellco for the fiscal year ended on January 31, 2017:

Sales 820 units Beginning inventory 230 units @ $ 4 Purchases, in chronological order 310 units @ $ 4 400 units @ $ 6 210 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.)

b. Assume that net income using the weighted-average cost flow assumption is $13,600. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)