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3 E7.5 (Algo) Calculating Ending Inventory and Cost of Goods Sold Under FIFO, UFO, and Average Cost LO7-2 2.85 port 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 ICO SS 1.090 ook Inventory. Dobar 1. prior yer For the current year Purchase. March 21 Par August Inventory, December 21, current year 2 5,040 2.850 4,030 Han Print Required: Compute ending inventory and cost of goods sold for the current year under FFO, LIFO, and average cost inventory conting methods (Round "Average cost per unit to 2 decimal places and final answers to nearest whole dollar amount.) References FIFO LIFO Average cost Ending inventory Cost of goods sold