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Penn Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided
Penn 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 3.600 $13.00 For the current year Purlda t 1 Inventory, December 31, current 8 800 year Requi ending inventory and cost of goods sold for the current year under FIFO. LIFO, and average cost inventory costing methods, (Do not round "Average cost per unit" and round your final answers to nearest whole dollar amount.) Average Cost FIFO LIFO Ending inventory Cost of goads sold
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