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

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Accounting

Hamilton Company uses a periodic inventory system. At the end ofthe annual accounting period, December 31, 2015, the accountingrecords provided the following information for product 1:

UnitsUnit Cost
  Inventory, December 31, 20141,930    $7      
  For the year 2015:
      Purchase, March 216,180    6      
      Purchase, August 14,070    4      
  Inventory, December 31, 20152,800    
Required:

Compute ending inventory and cost of goods sold under FIFO,LIFO, and average cost inventory costing methods. (Do notround intermediate calculations and round your final answers to thenearest dollar amount.)

FIFOLIFOAverage Cost
Ending inventory
Cost of goods sold

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