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Jamison Company uses a periodic Inventory system in accounting for one of its products, the Widget. At the end of the annual accounting period, December

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Jamison Company uses a periodic Inventory system in accounting for one of its products, the "Widget". At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for the "Widget": Units Unit Cost Inventory, December 31, prior year 1,989 $ 7 For the current year: Purchase, March 21 5,880 9 Purchase, August 1 2,830 10 Inventory, December 31, current year 4,160 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.) FIFO LIFO Average Cost Ending Inventory Cost of goods sold

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