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 20 units at $28 $560 Aug. 13 Purchase 7 units at $30 210 Nov. 30 Purchase 9 units at $31 279 Available for sale 36 units $1,049 There are 22 units of the item in the physical inventory at December 31. The periodi first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted avera answer to the nearest whole dollar). a. First-in, first-out (FIFO) method b. Last-in, first-out (LIFO) method c. Weighted average cost method $ SA A 641