Cunt Methoci The units of an item avalable for sale during the year mere as follows: There are 7 units of the inem in the phrysical innemery ac Decermber 3. The periodic inventory syitem is esed. Determine the invencoly cost using the (a) frat oth, firstout. (FIFO) mechod; [b) last in, first-out (LIFD) method; and (c) weighted average cost method (rovnd per-unt cost to twe decimal places and your final ankmer to the newest whole dotiar? - trowhicharingor - tatin ceratilarea a. When the FIFO method in used, certs are indudes in cost of goods sold in the order in which ther were puratused. b. When the UIFO method it vited, the coit of the units soid is the cast af the inost recent pundases. c. The werage cost method is strmetimes caled the weighted averagh mathod. The averape coil method uses the average unit con for determining cete af goods sold and the endeng inventory. Cunt Methoci The units of an item avalable for sale during the year mere as follows: There are 7 units of the inem in the phrysical innemery ac Decermber 3. The periodic inventory syitem is esed. Determine the invencoly cost using the (a) frat oth, firstout. (FIFO) mechod; [b) last in, first-out (LIFD) method; and (c) weighted average cost method (rovnd per-unt cost to twe decimal places and your final ankmer to the newest whole dotiar? - trowhicharingor - tatin ceratilarea a. When the FIFO method in used, certs are indudes in cost of goods sold in the order in which ther were puratused. b. When the UIFO method it vited, the coit of the units soid is the cast af the inost recent pundases. c. The werage cost method is strmetimes caled the weighted averagh mathod. The averape coil method uses the average unit con for determining cete af goods sold and the endeng inventory