E7.5 (Algo) Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost LO7.2 Nuttany 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. Compute ending inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory costing methods. Note: Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount