10. The units of an item available for sale during the ycar were as follows: January 1 March 17 June 22 November 20 Inventory 32 units@ $80 Purchase 45 units $92 Purchasc 36 units a $97 Purchase 63 units (a $112 There are 50 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the COST OF MERCHANDISE SOLD by (a) the first-in, first-out method, (b) the last-in, first-out method, and (c) the average cost method. a. FIFO b. LIFO c. ACM