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Please show the entire solving process Hamilton Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the
Please show the entire solving process
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 Units Unit Cost $6 Inventory, December 31, prior year For the current year: 1,840 Purchase, March 21 Purchase, August 1 6,170 4,020 2,800 Inv December 31, current y Required 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.) Answer is complete but not entirely correct. Average Cost LIFO $8,40015,840$ 12,544 $ 45,55042,910$ 41,340 FIFO Ending nven Cost of goods soldStep by Step Solution
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