ymac Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1, purchases invoices during the next 12 months, and the inventory count at December 31 are summarized as follows: Purchases Invoices Model Inventory, January 1 1st 2nd 3rd Inventory Count, December 31 A10 __ 4 at $ 43 4 at $ 46 4 at $ 49 5 B15 8 at $ 87 4 at 78 3 at 84 6 at 91 7 E60 3 at 70 3 at 60 15 at 63 9 at 65 5 G83 7 at 218 6 at 226 5 at 236 10 at 235 9 J34 12 at 51 10 at 53 16 at 60 16 at 61 13 M90 2 at 110 2 at 112 3 at 130 3 at 132 5 Q70 5 at 163 4 at 173 4 at 178 7 at 183 8 Required: 1. Determine the cost of the inventory on December 31 by the first-in, first-out method