Hamilton Company uses a periodic inventory system. At the end ofthe annual accounting period, December 31 of the current year, theaccounting records provided the following information for product1: Units Unit Cost Inventory, December 31, prior year 1,930 $ 6 Forthe current year: Purchase, March 21 6,010 5 Purchase, August 14,120 3 Inventory, December 31, current year 2,900 Required:Compute ending inventory and cost of goods sold under FIFO, LIFO,and average cost inventory costing methods.
