eBook 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 Aug. 7 Inventory Purchase Dec. 11 Purchase 12 units at $2,900 $34,800 19 units at $3,200 60,000 15 units at $3,300 46 units 49.500 $145,100 There are 17 units of the item in the phinical inventory at December 31. The periodic inventory System is ed Determine the entry coding (a) the first in, fed math the Panthe average cost method (Round per unit cost to tw decimal places and your final answer to the nearest we dollar) a. First in, first out (FIFO) Last-in, first-out (LIFO) c. Weighted average cost 36,100