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 19 units at $25 $475 Aug. 13 Purchase 11 units at $27 297 Nov. 30 Purchase 4 units at $29 116 Available for sale 34 units $888 There are 17 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