eBook Show Me How 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 9 units at $40 $360 Aug. 13 Nov. 30 Purchase Purchase 19 units at $421 798 12 units at $44 528 Available for sale 40 units $1,686 There are 12 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first- out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) 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)) c Weighted average cost Check My Work Previous Next All work saved Email Instructor Save and Exit Submit Assignment for Grading