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 18 units at $50 $900 Aug. 13 Purchase 7 units at $53 371 Nov. 30 Purchase 9 units at $54 486 Available for sale 34 units $1,757 There are 14 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). a. First-in, first out (FIFO) b. Last-in, first-out (LIFO) Weighted average cost e