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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

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 1: Inventory, December 31, prior year Units 1,980 Unit Cost $6 For the current year: Purchase, March 21 Purchase, August 1 5,010 2,980 68 Inventory, December 31, current year 4,140 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 complete but not entirely correct. FIFO LIFO Average Cost Ending inventory $ 34,820 $ 45,840 $ 32,706 Cost of goods sold $ 5,830 $ 45,840 $ 46,074

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