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Question 2 - M5 HW - Connect X + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fblackboard.jhu.edu%252Fwebapps%252Fportal... [dj M5 HW i Saved Help Save & Exit Submit Check my work 2 E7-6 (Algo) Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost LO7-2 10 points 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: Unit Units eBook Cost Inventory, December 31, prior year 1, 910 $6 For the current year : Purchase, March 21 6, 120 5 4, 030 Print Purchase, August 1 Inventory, December 31, current year 2, 920 Required: References 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 Average Cost Ending inventory $ 3,760 $ 169,310 $ 50, 107 Cost of goods sold $ 198,190 $ 376,400 $ 156,843 Mc Graw Hill