Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: 17 units at $40 $680 Jan. 1 Inventory 20 units at $43 Purchase July 7 860 Purchase 9 units at $45 Nov. 23 405 46 units $1,945 There are 18 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out (FI FO) method; (b) the last-in, first-out (LIFO) method; and (c) the weighted average cost method (round per unit cost to two decimal places and your final answer to the nearest whole dollar) First-in,first-out (FIFO) a. b. Last-in, first-out (LIFO) Weighted average cost C. tA