Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods Nov. 30 The units of an item available for sale during the year were as follows: Jan. 1 Inventory 18 units at $42 $756 Aug. 13 Purchase 16 units at $44 704 Purchase 8 units at $46 368 Available for sale 42 units $1,828 There are 17 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) b. Last-in, first-out (LIFO) $ S C. Weighted average cost