PE 7-5B Periodic inventory using FIFO, LIFO, and weighted average cost methods oBJ.4 The units of an item available for sale during the year were as follows: Jan. 1 Aug. 13 Nov. 30 Available for sale nventory20 units at $360 260 units at $342 40 units at $357 7,200 88,920 14,280 $110,400 Purchase Purchase 320 units There are 57 units of the item in the physical inventory at December 31. The periodic in ventory system is used. Determine the inventory cost using (a) the first-in, first-out (FIFo method; (b) the last-in, first-out (LIFO) method; and (o) the weighted average cost method