The units of an item available for sale during the year were as follows: Jan.1 Inventory 26 units at $200 per unit Feb. 19 Purchase 54 units at $230 per unit June 8 Purchase 61 units at $540 per unit Oct. 7 Purchase 56 units at $275 per unit There are 47 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost under each of the following methods. a. Determine the inventory cost by using the first-in, first-out method. $fill in the blank 1 b. Determine the inventory cost by using the last-in, first-out method. $fill in the blank 2 c