Periodic Inventory by Three Methods The units of an Item available for sale during the year were as follows: Jan. 1 Inventory 1,100 units $130 Feb. 17 Purchase 1,430 units @ $132 July 21 Purchase 1,500 units $135 Nov. 23 Purchase 1,125 units $136 There are 1,200 units of the item in the physical inventory at December 31. The periodic Inventory system is used. a. Determine the inventory cost by the first in first-out method. 5 163,200 X b. Determine the inventory cost by the last-in, first-out method. 156,200 c. Determine the inventory cost by the weighted average cost method. Do not round Intermediate calculation and round final answer to the nearest whole dollar. $ 159,600 X