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4 1.5 points eBook Print References E7-6 (Algo) Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost LO7-2 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: Inventory, December 31, prior year For the current year: Ending inventory Cost of goods sold FIFO Units LIFO 1,810 Purchase, March 21 Purchase, August 1 Inventory, December 31, current year Required: Compute ending inventory and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods. Note: Round "Average cost per unit" to 4 decimal places and final answers to nearest whole dollar amount. 6,010 4,150 2,850 Unit Cost $7 Average Cost 6 4

E7-6 (Algo) Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost LO7-2 Hamilton Compony uses a periodic inventory system. At the end of the annusl accounting period, December 31 of the current year, the accounting records provided the following information for product : requirea: Compute enising imventery and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods. Noter Round "Average cost per unit" to 4 decimal places and final answers to nearest whole dollar amount

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