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:

Inv Dec 31 prior year Units 2000 - $5 (unit cost)

Puchase march 21 : 5000 - $6

Purchase August 1: 3000 - $8

Inventory December 31 current year 4000: (blank)

Ending inventory (FIFO/LIFO/AVG COST)

Cost of goods sold (FIFO/LIFO/Avg Cost)