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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

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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 1,870 Unit Cost $5 Inventory, December 31, 2014 For the year 2015: Purchase, March 21 Purchase, August 1 Inventory, December 31, 2015 5,160 2,910 4. 110 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.) FIFOR LIFO Average Cost Ending inventory Cost of goods sold

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