Periodic Inventory by three methods Bulldog Appliances uses the periodic inventory system. Details regarding the inventory of appliances at September 1, 2011, purchases Invoices during the new 12 months, and the inventory count at August 31, 2012, are summarized as follows: Instructions Determine the cost of the inventory on August 31, 2012, by the average cost method, using the following headings: Model_Quantity Unit Cost; Total Cost Discuss which method (FIFO or LIFO) would be preferred for income tax purposes in periods of (a) rising prices and (b) declining prices