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 5 units at $27 $135 Aug. 13 Purchase 12 units at $30 360 Nov. 30 Purchase 15 units at $32 480 Available for sale 32 units $975 There are 13 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) 570 x b. Last-in, first-out (LIFO) $ 351 C. Weighted average cost Feedback