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Simpson Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Simpson Company sold a total of 20,500 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) Average-cost method cost of goods sold = $439,520 Average-cost method ending inventory = $96,480 Requirement 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. FIFO method cost of goods sold = FIFO method ending inventory = 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. \begin{tabular}{|lccc|} \hline & Quantity & \multicolumn{2}{c|}{ Unit Cost } \\ Beginning inventory & 7,000 & $ & 20.00 \\ Purchases during year & 18,000 & $ & 22.00 \\ \hline \end{tabular} Print Done Simpson Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Simpson Company sold a total of 20,500 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) Average-cost method cost of goods sold = $439,520 Average-cost method ending inventory = $96,480 Requirement 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. FIFO method cost of goods sold = FIFO method ending inventory = 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. \begin{tabular}{|lccc|} \hline & Quantity & \multicolumn{2}{c|}{ Unit Cost } \\ Beginning inventory & 7,000 & $ & 20.00 \\ Purchases during year & 18,000 & $ & 22.00 \\ \hline \end{tabular} Print Done