Question: Saved Help Save & Exit Submit Hittany Company uses a periodic inventory system. At the end of the annual accounting meriod, December 31 of the
Saved Help Save & Exit Submit Hittany Company uses a periodic inventory system. At the end of the annual accounting meriod, December 31 of the current year, the accounting records provided the following nformation for product 1: Units 2,000 Unit Cost Inventory, December 31, prior year For the current year: Purchase, March 21 Purchase, August 1 Inventory, December 31, current year 5,060 2,970 4,020 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.) FIFO LIFO Average Cost Ending inventory Cost of goods sold
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