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 Inventory, December 31, prior year 1,830 $7 For the current year: Purchase, March 21 6,110 6 Purchase, August 1 4,020 4 Inventory, December 31, current year 2,940 Required: Compute ending inventory and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods. Note: Round "Average cost per unit" to 4 decimal places and final answers to nearest whole dollar amount. Please solve the Average Cost of Ending Inventory, I know its not 16,114 FIFO Average Cost 11,760 53,790 46,080 49,437 Ending Inventory Cost of goods sold LIFO 19,470

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 Inventory, December 31, prior year 1,830 $7 For the current year: Purchase, March 21 6,110 6 Purchase, August 1 4,020 4 Inventory, December 31, current year 2,940 Required: Compute ending inventory and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods. Note: Round "Average cost per unit" to 4 decimal places and final answers to nearest whole dollar amount. Please solve the Average Cost of Ending Inventory, I know its not 16,114 FIFO Average Cost 11,760 53,790 46,080 49,437 Ending Inventory Cost of goods sold LIFO 19,470

Name: Oo.84.Subject :- Account Hamilton Company uses a periodic inventory sy
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Description: Oo.84.Subject :- Account Hamilton Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of thecurrent year, the accounting records provided the following information for product 1:Units Unit CostInventory,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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