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 Aug. 131 Nov. 30 Inventory Purchase Purchase 4 units at $28 $112 19 units at $31 589 15 units at $32 480 Available for sale 38 units $1,161 There are 15 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). First-in, first-out (FIFO) b. Last-in, first out (LIFO) c. Weighted average cost