Sherman Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) ShermanCompany sold a total of 18,600 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) Average-cost method cost of goods sold = Average-cost method ending inventory = Requirement 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. FIFO method cost of goods sold = FIFO method ending inventory = Data table Requirement 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. Beginning inventory Purchases during year Quantity Unit Cost 8,000 $ 12,000 $ 14.00 16.00 LIFO method cost of goods sold = LIFO method ending invetory = Requirements 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. - Print Done Next