Hamilton company uses a periodic inventory system at the

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Reference no: EM13577535

Hamilton Company uses a periodic inventory system. At the end of the annual accounting period, December 31, 2012, the accounting records provided the following information for product 1:

Units

Unit Cost

Inventory, December 31, 2011

1,860

For the year 2012:

Purchase, March 21

6,100

Purchase, August 1

4,040

Inventory, December 31, 2012

2,880

Required:

Compute ending inventory and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods. (Round intermediate calculations to 4 decimal places and round your final answers to the nearest dollar amount. Cost of goods sold and ending inventory may not add up to cost of goods available for sale due to rounding. Omit the "$" sign in your response.)

	FIFO	LIFO	Average Cost
Ending inventory	$	$	$
Cost of goods sold	$	$	$

Reference no: EM13577535

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