E7-5 (Algo) Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost LO7-2 Nittany 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 t: Unita 1,880 Unit Cont! 35 Inventory, December 31, prior year For the current year! Purchase, March 21 Purchase, August 1 Inventory, December 31, current year 7 5,090 2,930 4,130 Required: Compute ending Inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory costing methods. (Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount.) Answer is not complete. Average Cost FIFO 31,840$ LIFO 36,630 S Ending inventory Cost of goods sold Next >