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The units of an item available for sale during the year were as follows: Jan. 1 Inventory 17 units at $27 $459 July 7 Purchase

The units of an item available for sale during the year were as follows:

Jan. 1 Inventory 17 units at $27 $459
July 7 Purchase 13 units at $30 390
Nov. 23 Purchase 15 units at $31 465
45 units $1,314

There are 27 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, first-out (LIFO) method; and (c) the weighted average cost method (round per unit cost to two decimal places and your final answer to the nearest whole dollar).

a. First-in, first-out (FIFO) $
b. Last-in, first-out (LIFO) $
c. Weighted average cost

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