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	Unit Cost
Inventory, December 31, prior year	1,870		$	3
For the current year:
Purchase, March 21	5,090			5
Purchase, August 1	2,890			6
Inventory, December 31, current year	4,020

	FIFO	LIFO	Average Cost
Ending inventory
Cost of goods sold