Inventory by Three Methods The units of an item available for sale during the year were as follows: There are 47 units of the item in the physical inventory at December 31 . The periodic inventory system is used. Determine the inventory cost under each of the following methods. a. Determine the inventory cost by the first-in, first-out method. $ b. Determine the inventory cost by the last-in, first-out method. $ c. Determine the inventory cost by the average cost method. Do not round intermediate calculation and round final answer to the nearest whole value