nieducation.com Homework Save Help Save & Exit Sub Check my work E7-5 (Algo) Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost L07-2 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 Units 1,850 Unit Cont 35 Inventory. December 31, prior year For the current yeart Purchase, March 21 Purchase, August 1 Inventory, December 31, current year 2 5.040 2.900 4,040 Required: 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.) LIFO Average cont Ending inventory Cost of goods sold