Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Inventory Jan. 1 Aug. 7 Dec. 11 6 units at $33 First-in, first-out (FIFO) b. Last-in, first-out (LIFO) Weighted average cost 16 units at $34 13 units at $35 35 units $198 455 $1,197 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 (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).

Perrodic Inveitory Usang FTro, L7F, and Weighted Average Coat Methods The units of an itim avalsble foc sole during the yearinere as follows: There are 15 units of the iben m the phomeal mwentory at Decomber 31. The penobcementory system is used. Deterinine the inventory cost using (a) the firsting, first-out nearest whole dolliar)