Aug. 13 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 10 units at $49 $490 Purchase 20 units at $52 1,040 Nov. 30 Purchase 20 units at $53 1,060 Available for sale 50 units $2,590 There are 15 units of the item in the physical inventory at December 31. The periodic nventory system is used. Determine the inventory cost using the first-in, first-out (FIFO) method; (b) lastin, first out (UF) method; and (c) weighted average cout method (round per-unit cost to two decimal places and your first answer to the nearest whole dollar) First-in, first-out (FFO) b. Last-in, first-out (LIFO) C Weighted average cost