Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 19 units at $30 Feb. 17 Purchase 5 units at $31 Jul 21 Purchase 14 units at $32 Nov. 23 Purchase 12 units at $33 There are 15 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, it required. 1. Determine the inventory cost by the first in first-out method b. Determine the inventory cost by the fast-ir, fist cut method. c. Determine the inventory cost by the weighted average cost method