om/ilm/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator &inprogress false eBook Show Me How Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Method. The units of an item available for sale during the year were as follows: Jan. 1 Aug. 13 Nov. 30 Inventory Purchase Purchase 7 units at $40 $280 17 units at $42 714 13 units at $44 572 Available for sale 37 units $1,566 19 # " There are 16 units of the item in the physical Inventory at December 31. The periodic inventory system is used. Determine the inventory cast using (a) the first-in, first-out (FIFO) method; (b) the last-in, first-out (LIFO) 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). Di First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c Weighted average cost