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 13 units at $26 3338 Aug. 7 Purchase 17 units at $27 450 Dec. 11 Purchase 13 units at $29 377 $1,174 43 units There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory costum (o) the first stor method; (b) the last in, first-out (LFO) method, and (c) the weighted average cost method (round per unit cost to two decimal places and your name to the wholesar) First-in, first-out (FIFO) b. Last in, first-out (LIFO) C Weighted average cost