The units of an item available for sale during the year were as follows: Jan. 11 Inventory Mar. 10 Purchase Aug. 30 50 units $108 50 units $118 Purchase: 30 units $124 Dec. 12 Purchase 70 units $126 There are 60 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost and the cost of merchandise sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar. Cost of Merchandise Inventory and Cost of Merchandise Sold Merchandise Inventory Merchandise Sold Inventory Method a. First-in, first-out (FIFO) 10.060 b. Last-in, first-out (LIFO) e. Weighted average cost 13.700 x