Question: 2 10 10 points Return to question Hamilton Company uses a periodic inventory system. At the end of the annual accounting period, December 31
2 10 10 points Return to question 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: Purchase, March 21 Purchase, August 1 Inventory, December 31, current year Unit Units Cost 1,840 $6 6,190 4,160 3 2,990 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.) Answer is complete but not entirely correct. FIFO LIFO Average Cost Ending inventory $ 8,970 $ 16,790 $ 13,455 Cost of goods sold $ 45,500 $ 37,680 $ 42,933 x
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