E$7-6($Algo$)$ Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost

L$07\mathrm{.}2$

Hamilton Company uses a periodic Inventory system. At the end of the annual accounting perlod, December $31$ of the current year, the

accounting records provided the following Information for product $1$ :

Required:

Compute ending Inventory and cost of goods sold under FIFO, LIFO, and average cost Inventory costing methods.

Note: Round "Average cost per unit" to $4$ decimal places and final answers to nearest whole dollar amount.