Apps Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows 38 units Jan. 1 Inventory 9 units at $2,900 $26, 100 Aug. 7 Purchase 19 units at $3,000 57,000 Dec 1: Purchase 10 units at $3,200 32,000 $115,100 There are 20 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using () the first in, first out (FIFO) method; (b) the tastin, first-out (LFO) method; and () the weighted average cost method (Round per unit cost to two decimal places and your final answer to the nearest whole dollar). a. Firotin, first-out (FIFO) 64,000 X b. Last-in, first-out (FO) 83,100 X c. Weighted average co 3,020.94 X