Periodic Inventory Using FIFO, LFO, and Weighted Average Cost Method. The units of an item avaliable for sale during the year were as follows: There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used, Determine the inventory cost using (a) the fint-in, firstout (H1FO) method; (b) the last-in, first-out (UFO) methed; and (c) the weighted average cost method (round per-unit cost to two decimat places and your final answer the nearest whole dollar)