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 $39 $702 Aug. 13 Purchase 17 units at $42 714 Nov. 30 Purchase 16 units at $43 688 Available for sale 51 units $2,104

There are 15 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) $ fill in the blank

1 b. Last-in, first-out (LIFO) $ fill in the blank

2 c. Weighted average cost $ fill in the blank 3