7.6 (Algo) Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost 072 amilton Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the counting records provided the following information for product 1 : mpute ending inventory and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods. ote: Round "Average cost per unit" to 4 decimal plases and final answers to nearest whole dollar amount