Penn Company uses a periodic inventory system. At the end of the annual accounting period, December 31, 2015, the accounting records provided the following information for product 1: Units Unit Cost Inventory, December 31, 2014 1,920 $ 7 For the year 2015: Purchase, March 21 5,130 9 Purchase, August 1 2,940 Inventory, December 31, 2015 4,200 10 Required: Compute ending inventory and cost of goods sold 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 Answer is not complete. LIFO Average Cost $ 49,350 Ending inventory Cost of goods sold $ 55,860 X