Business, 11.05.2021 18:00 Farhan54019

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 1,890 $ 7 For the current year: Purchase, March 21 6,030 6 Purchase, August 1 4,040 4 Inventory, December 31, current year 2,840 Required: Compute ending inventory and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods.

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