=+There are 24 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using

(a) the first-in, first-out

(FIFO) method;

(b) the last-in, first-out (LIFO) method; and

(c) the average cost method.

Jan. 1 Inventory 60 units at $45 $ 2,700 Apr. 20 Purchase 90 units at $50 4,500 Nov. 30 Purchase 75 units at $54 4,050 ___ _______ Available for sale 225 units $11,250 ___ _______ ___ _______