Question: Hi, I need some help with the below question The units of an item available for sale during the year were as follows: Jan. 1

Hi,

I need some help with the below question

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

Jan. 1	Inventory	20	units at $45	$900
Aug. 13	Purchase	8	units at $47	376
Nov. 30	Purchase	18	units at $48	864
Available for sale		46	units	$2,140

There are 18 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) 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)	A-$fill in the blank 1
b.	Last-in, first-out (LIFO)	B-$fill in the blank 2
c.	Weighted average cost	C-$fill in the blank 3

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