Periodic Inventory UsingFIFO,LIFO, andWeighted Average Cost Methods

The units of an item available for sale during the year were as follows:

Jan. 1 Inventory 12 units at $28 $336

Aug. 13 Purchase 13 units at $30 390

Nov. 30 Purchase 6 units at $31 186

Available for sale 31 units $912

There are 19 units of the item in thephysical inventoryat 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 $