E$7-6($Algo$)$ Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost L$07-2$

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 $1$ :

$\backslash$table$[[,$Units,Unit$],[$Inventory$,$ December $31,$ prior year,$1,960,$$$6$