Determine the inventory cost under each of the following methods:

a) Determine the inventory cost by the first-in, first-out (FIFO) method. b) Determine the inventory cost by the last-in, first-out (LIFO) method. c) Determine the inventory cost by the average cost method. When computing your answer, round the average cost per unit to the nearest whole dollar.

The units of an item available for sale during the year were as follows: Jan.1 Inventory Feb. 17 Purchase Jul. 21 Purchase Nov. 23 Purchase 19 units@$45 per unit 20 units @ $46 per unit 15 units@ $49 per unit 4 units@ $51 per unit There are 17 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost under each of the following methods a. Determine the inventory cost by the first-in, first-out method 867.00 b. Determine the inventory cost by the last-in,first out method c. Determine the inventory cost by the average cost method. When computing your answer, round the average cost per unit to the nearest whole dollar. 795.43