Penodic Inventory Using FIFO, LIYO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows Jan. 1 Aug 7 Dec. 11 Inventory Purchase Purchase 10 units at $32 $320 16 units at $33 528 10 units at $35 units 350 $1,198 There are 16 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 (UFO) 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). First in, first-out (FIFO) Lastin, fint out (UFO) Weighted average ca