Cost flow assumptions-FIFO, LIFO, and weighted average using a periodic system LO 7, 8 The following data are available for Sellco for the fiscal year ended on january 31, 2017. 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.) Assume that not income using the weighted-average cost flow assumption is $13, 600. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)