Question Content Area 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 10 units at $41 $410 Aug. 7 Purchase 16 units at $44 704 Dec. 11 Purchase 13 units at $45 585 39 units $1,699 There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out (FIFO) method; (b) the last-in