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

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Question

Accounting

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:
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.
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