Periodic Inventory Using FIFO, LFO, and Weighted Average Cost Methods The units of an item avallable for sale during the year were as follows: There are 14 units of the item in the physical inventary at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, firstout (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 finai answer to the nearest whole doltar)