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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

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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 the following information for product 1: Units Inventory, December 31, prior year For the current year: 1,920 Unit Cost $ 7 Purchase, March 21 5,160 9 Purchase, August 1 2,820 10 Inventory, December 31, current year 4,070 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 Ending inventory Cost of goods sold LIFO Average Cost

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