Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 15 units at $47 Feb. 17 Purchase 6 units at $48 Jul. 21 Purchase 12 units at $51 Nov. 23 Purchase 4 units at $53 There are 7 units of the item in the physical inventory at December 31. The periodic inventory system is used. Round average unit cost to the nearest cent and final answers to the nearest whole dollar, if required. 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. Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 17 units at $45 $765 Aug. 13 Purchase 7 units at $47 329 Nov. 30 Purchase 6 units at $48 288 Available for sale 30 units $1,382 There are 9 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). a First-in, first-out (FIFO) 432 $ b. Last-in, first-out (LIFO) Weighted average cost c. $