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Periodic inventory using FIFO, LIFO, and weighted average cost methods

The units of an item available for sale during the year were as follows:

Date	Line Item Description	Units	Cost per Unit	Amount
Jan. 1	Inventory	19 units	at $39	$741
Aug. 13	Purchase	11 units	at $40	440
Nov. 30	Purchase	10 units	at $41	410
	Available for sale	40 units		$1,591

There are 24 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).

Line Item Description	Amount
a. First-in, first-out (FIFO) method	$fill in the blank 1
b. Last-in, first-out (LIFO) method	$fill in the blank 2
c. Weighted average cost method	$fill in the blank 3