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Penn Company uses a periodic inventory system


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                   Unit Cost

Inventory, December 31, prior year     2800                      9

For the current year:

Purchase, March 21                             5800                    10

Purchase,  August 1                              3800                    4

Inventory, December 31, current year    6,400 
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.) 

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