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 11 units at $43 $473 Aug 13 Purchase 12 units at $45 540 Nov. 30 Purchase 13 units at $47 611 Available for sale $1,624 There are 22 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) Weighted average cost 36 units 101