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 18 units at $39 $702 Purchase 18 units at $41 738 Nov. 30 Purchase 5 units at $43 215 Available for sale 41 units $1,655 There are 25 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) lastin, 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). 2. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) Weighted average cost X