Calculator Periodic Inventory by Three Methods; Cost of Merchandise Sold Jan. 1 The units of an item available for sale during the year were as follows: Inventory SO units @ $122 Mar. 10 Purchase 60 units $132 20 units $136 70 units $142 There are 80 units of the item in the physical Inventory at December 31. The periodic inventory system is used. Determine the Inventory cost and the cost of merchandise sold by three methods. Round Interim calculations to one decimal and final answers to the nearest whole dotlar. Aug. 30 Purchase Dec 12 Purchase Cost of Merchandise Inventory and cost of Merchandise Sold Inventory Method Merchandise Inventory Merchandise Sold First in, first-out (FFO) S Last-in, first-out (LIFO) Weighted average cost Previous Next All work saved Emaintructor Submit Test for Gradi