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 $48 $864 Aug. 13 Purchase 7 units at $49 343 Nov. 30 Purchase 13 units at $51 663 Available for sale 38 units $1,870 There are 19 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) 912 b. Last-in, first-out (LIFO) $ $ $ 969 C. Weighted average cost Feedback Check My Work When the CEO methodic correcte aro included in Check My Work Previous Next