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. Inventory 14 units at 54,200 $58,800 Aug. 7 Purchase 17 units at $4,400 74,800 Dec. 11 Purchase 15 units at $4,600 69,000 $202,500 There are 16 units of the item in the physical inventory at December 31. The periodic Inventory system is used. Determine the inventory cost using (a) the first-in, first out (FTFO) method; (b) the last-in, first-out (LIFO) method, and (c) the 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) 46 units b. Last-in, first-out (LIFO) C. Weighted average cost Check My Work Previous Next > o SSF Sunny Ad 9:54 AM 11/8/2021