EX 7-13 Periodic inventory by three methods; cost of merchandise sold The units of an item available for sale during the year were as follows: OBJ. 2, 4 a. Inventory, $239,840 Jan 1,800 units at $108 1 Inventory Mar. 10 Purchase 2,240 units at $110 Show Me How Purchase 2,000 units at $116 Aug. 30 Purchase Dec. 12 1,960 units at $120 There are 2,000 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost and the cost of merchandise sold by three methods, presenting your answers in the following form: Cost Merchandise Inventory Merchandise Sold Inventory Method $ a. First-in, first-out $ b. Last-in, first-out Weighted average cost C