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 8 units at $32 $256 Aug. 13 Purchase 12 units at $33 396 Nov. 30 Purchase 17 units at $34 578 Available for sale 37 units $1,230 There are 18 units of the item in the physical inventory at December 31. The periodic inventory syst average cost method (round per-unit cost to two decimal places and your final answer to the neares a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost 000