$850 Periodic Inventory Using FIFO, LIFO, and weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 17 units at $50 Aug. 13 Purchase 15 units at $53 795 Nov. 30 Purchase 13 units at $54 702 Available for sale 45 units $2,347 There are 27 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). First-in, first-out (FIFO) Last-in, first-out (LIFO) c. Weighted average cost b. S 5