Jan. 1 Periodic Inventory Using FIFO, LIFO, and weighted Average Cost Methods The units of an item available for sale during the year were as follows: Inventory 7 units at $2,700 $18,900 Aug. 7 Purchase 19 units at $3,000 57,000 Dec. 11 Purchase 12 units at $3,100 37,200 38 units $113,100 There are 15 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 (UFC) 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). 3. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) Weighted average cost