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

Sales	820	units
Beginning inventory	270	units	@	$	4
Purchases, in chronological order	320	units	@	$	5
	400	units	@	$	6
	220	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): (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 $14,300. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)

	Net Income
FIFO
LIFO