Question 11 The units of an item available for sale during the year were as follows: Jan 1 Inventory 20 units at 127 April 15 Purchase 138 units at 115 September 9 Purchase 22 units at 125 2 Points There are 35 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the first-in, first-out (FIFO) Add your answer Question 12 The units of an item available for sale during the year were as follows: Jan 1 Inventory 23 units at 128 April 15 Purchase 144 units at 117 September 9 Purchase 29 units at 123 2 Points There are 39 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the last-in, first-out (LIFO)