15.00 points E7-6 Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost LO7-2 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 Unts Unit Cost Inventory. December 31, prior year For the current year 1,940 $6 Purchase, March 21 Purchase, August 1 6,050 4,170 2,960 Inventory, December 31, current year 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.) FIFO LIFO Ending inventory Cost of goods sold References