eBook Show Me How Calculator Print Item 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 $28 $140 Purchase 17 units at $31 527 Dec. 11 Purchase 12 units at $32 384 Aug. 7 34 units $1,051 There are 19 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cast 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). a First-in, first-out (FIFO) b. Last-in, first-out (LIFO) Weighted average cost