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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: Inventory, December 31, prior year Units 1,900 Unit Cost $5 For the current year: Purchase, March 21 5,110 7 Purchase, August 1 Inventory, December 31, current year 2,880 4,040 8 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.) Ending inventory Cost of goods sold FIFO LIFO Average Cost

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