Nittany Company uses a periodic inventory system. At the end of the annual accounting period, December...

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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 1: Unit Units Cost Inventory, December 31, prior year 1,840 $ 6 For the current year: Purchase, March 21 5,090 8 Purchase, August 1 2,920 9 Inventory, December 31, current year 4,160 Required: Compute ending inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory costing methods. Note: Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount. Ending inventory Cost of goods sold FIFO LIFO Average Cost 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 1: Unit Units Cost Inventory, December 31, prior year 1,840 $ 6 For the current year: Purchase, March 21 5,090 8 Purchase, August 1 2,920 9 Inventory, December 31, current year 4,160 Required: Compute ending inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory costing methods. Note: Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount. Ending inventory Cost of goods sold FIFO LIFO Average Cost