Dec. 11 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 5 units at $4,100 $20,500 Aug. 7 Purchase 20 units at $4,300 86,000 Purchase 10 units at $4,500 45,000 35 units $151,500 There are 19 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out (FIFO) method; (b) the last-in, first-out (LIFO) method; and (c) the 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) b. Last-in, first-out (LIFO) a. C. Weighted average cost S