eBook Show Me How Question Content Area 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 $15$ units at $$4,000$ $$60,000$ Aug. $7$ Purchase $21$ units at $$4,60096,600$ Dec. $11$ Purchase $18$ units at $$5,10091,800$ Available for sale $54$ units $$248,400$ 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 $($a$)$ the first