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

Sales	750	units
Beginning inventory	230	units	@	$	4
Purchases, in chronological order	300	units	@	$	4
	450	units	@	$	7
	210	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.)

b. Assume that net income using the weighted-average cost flow assumption is $14,500. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)