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Compute ending inventory and cost of goods sold

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Question - Hamilton Company uses a periodic inventory system. At the end of the annual accounting period, December 31, 2015, the accounting records provided the following information for product 1:

Inventory 12/31/2014: 1960 units @ $7 for year 2015:

Purchase, 3/21: 6170 @ $6

Purchase, 8/1: 4000 @ $4

Inventory 12/31/2015: 2930

Compute ending inventory and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods.

Reference no: EM132558291

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