The beginning inventory and purchases of an item for the period were as follows: Beginning inventoryr 6 units at P?3 each First purchase 10 units at P72 each Second purchase 13 units at P?4 each Third purchase 10 units at P?5 each The company uses the periodic system, and there were 15 units in the inventory at the end ofthe period. Determine the cost of the 15 units in the inventory by each of the following methods, presenting details of your computations: (a) first-in, rst-out; {c} average cost. Inventory Method Cost of Merchandise Inventory 1. FIFO example: 5 units @ 20 =1DD 2. Average Cost