The following data are available for Sellco for the fiscal year ended on January 31, 2017: Sales Beginning inventory Purchases, in chronological order 780 units 300 units @$4 @ss @$6 @$7 330 units 440 units 200 units 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 $12,700. Calculate net income under FIFO and LIFO (Round unit cost to 2 decimal places) Net Income FIFO LIFO eBook & Resources References