The following data are available for Sellco for the fiscal year ended on January 31, 2020: Sales Beginning inventory Purchases, in chronological order 820 units 290 unita e$3 310 units 85 430 unita 66 220 units $7 d K 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.) aces Cost of Goods Sold Ending Inventory FIFO LIFO Weighted averago b. Assume that net income using the weighted average cost flow assumption is $12.500. Calculate net income under FIFO and LIFQ (Round unit cost to 2 decimal places.) Net Income 220 units 87 Required: a. Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and Welghted 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 $12.500 Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.) Not Income FIFO LIFO SH Next >