Help Save & Submit Check my work E7-5 (Algo) Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost LO7-2 Nittany Company uses a periodic Inventory system. At the end of the annual accounting period, December 3t of the current year, the accounting records provided the following information for product t Units Unit Cost 1,90 Inventory, December 31, prior year For the current years Purchase, March 21 Purchase, August 1 Inventory, December 31, current year ? 5,010 2,010 4,010 Required: d. Compute ending inventory and cost of goods sold for the current year 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 LIFO Average Cost Ending Inventory Cost of goods sold 28 Next >