Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost Hamilton Company uses a periodic inventory system. At the end of the annual accounting period December 31, 2012, the accounting records provided the following information foe product 1: Required: Compute ending inventory and cost of goods sold under FIFO, LIFO, and average cost of goods sold under FIFO, LIFO, and average cost inventory costing methods. (Hint: Set up adjacent columns for each case.)