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	1,860	$ 7
For the current year:
Purchase, March 21	5,170	9
Purchase, August 1	2,840	10
Inventory, December 31, current year	4,150

Required:

Compute ending inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory costing methods.

Note: Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount.

	FIFO	LIFO	Average Costs
Ending inventory
Costs of goods sold