Question: I need help finding the average cost! thank you so much E7-5 Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average

 I need help finding the average cost! thank you so much

I need help finding the average cost! thank you so much

E7-5 Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost LO7-2 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 Inventory, December 31, prior year2,700 Unit Cost $8.50 For the current year: Purchase, March 21 Purchase, August1 5,700 3,700 9.50 4.00 Inventory, December 31, current ear 6,100 Required: Compute 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.) Answer is complete but not entirely correct. Average Cost FIFO $ 37,60055,250 $ 54,300$ 36,650 $ 45,540 LIFO Ending invento Cost of goodsS sold

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