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 15 units at $47 $705 Aug. 13 Purchase 4 units at $48 192 Nov. 30 Purchase 6 units at $49 294 Available for sale 25 units $1,191 There are 10 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) $

c. Weighted average cost