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Nittany Company uses a periodic inventory system


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: 
                                                              Units                  Unit cost   

Inventory, December 31, prior year       1,840                      $4

For the current year:

Purchase, March 21                               5,110                      $6

Purchase, August 1                                2,980                      $7

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. (Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount) 

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