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Hamilton Company uses a periodic inventory system. At the end of the annual accounting period,...

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Accounting

imageHamilton Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 1:

Hamilton Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 1 Units Unit Cost Inventory, December 31, prior year For the current year 1,980 S6 Purchase, March 21 Purchase, August 1 6,080 4,050 2,800 Inventory, December 31, current year Required: Compute ending inventory and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods. (Round "Average cost per unit" to 4 decimal places and final answers to nearest whole dollar amount.) Average Cost FIFO LIFO Ending inventory Cost of goods sold

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