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 $26 $520 Aug. 13 Purchase 16 units at $28 448 Nov. 30 Purchase 11 units at $30 330 Available for sale 47 units $1,298 There are 19 units of the item in the physical Inventory at December 31. The periodic Inventory system is used. Determine the inventory cost using the () first-in, first out (FIFO) method; (b) last-in, first-out (LFC) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar) 2. First-in, first-out (FIFO) b. Lastin, first-out (FO)