The following data are available for Sellco for the fiscal year ended on January 31, 2020: Sales 790 units Beginning inventory 290 units @ $ 3 Purchases, in chronological order 310 units @ $ 4 430 units @ $ 6 220 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 $12,700. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)