Sherwood Company's inventory records for the most recent year contain the following data: 3 (Click the icon to view the data.) Sherwood Company sold a total of 19,600 units during the year. Read the 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. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. C Using the average-cost method, the cost of goods sold is $ 219,520 and the ending inventory is $ 4,480 Print Done Requirement 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. Using the FIFO method, the cost of goods sold is $ 220800 and the ending inventory is $ 3200]. Beginning inventory Purchases during year Quantity 4,000 16,000 Unit Cost $ 8.00 $ 12.00 Print Done Enter any number in the edit fields and then click Check Answer. part remaining Clear All Check