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Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 1,060 units @

Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows:

Jan. 1 Inventory 1,060 units @ $128

Feb. 17 Purchase 1,440 units @ $129

Jul. 21 Purchase 1,575 units @ $130

Nov. 23 Purchase 1,150 units @ $131

There are 1,225 units of the item in the physical inventory at December 31. The periodic inventory system is used. Do not round intermediate calculation and round final answer to nearest whole value.

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 weighted average cost method. $

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