odic inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Aug. 13 Inventory 4 units at $37 $148 Purchase 12 units at $40. 480. Nov. 30 Purchase 14 units at $41 Available for sale 30 units 574 $1,202 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) firs 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). Peridic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan, 1 Aug. 13 Nov. 30 Inventory Purchase Purchase 4 units at $37 $148 12 units at $40 480 14 units at $41 574 Available for sale 30 units $1,202 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) b. Last-in, first-out (LIFO) C Weighted average cost 1,230 x Incorrect 868 X