29 Saved Help 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 years Purchase, March 21 Purchase, August 11 Inventory, December 31, current year Required: Units Unit Cost 1,960 $8 6,130 7 4,100 5 2,910 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.) Ending inventory Cost of goods sold FIFO LIFO Average Cost Save & Exit Submi Required information [The following information applies to the questions displayed below.] Givoly Inc. 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 2: Units Inventory, December 31, prior year For the current year: Purchase, March 5) Purchase, September 19 Sale ($30 each) Unit Coat 7,200 $10 19,200 10,200 8,200 Sale ($32 each) 16,200 Operating expenses (excluding income tax expense) $402,000 Help Save & Exit Submit Required: 1. Prepare a separate income statement through pretax income that details cost of goods sold for (a) Case A: FIFO and (b) Case B: LIFO. (Loss amounts should be indicated with a minus sign.) GIVOLY INC. Income Statement of 3 6:48 Cost of goods sold GIVOLY INC. Income Statement For the Year Ended December 31, current year Case A FIFO Case B LIFO Goods available for sale 0 0 Cost of goods sold Pretax income/loss 1 of 3 00:56:33 Cost of goods sold: For the Year Ended December 31, current year Case A FIFO Case B LIFO Accounts payable 0 0 Accounts receivable Beginning inventory Cash Pretax income/loss