Show Me How eBook Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: $608 Inventory16 units at $38 Jan. 1 697 Purchase17 unlts at $41 Aug. 13 731 17 units at $43 Nov. 30 Purchase 50 units $2,036 Available for sale There are 30 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using th (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 dolar) First-in, first-out (FIFO) a. Last-in, first-out (LIFO) b. Weighted average cost c. the FiFO method is used, costs are included in cost of goods sold in thee order in which they were purchased