Question: Periodic inventory Using FIFO, LIFO, and weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan.

Periodic inventory Using FIFO, LIFO, and weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 4 units at $25 $100 Aug 13 Purchase 8 units at $26 200 Nov. 30 Purchase units at $28 224 Available for sale $532 There are 12 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the(a) first in, first-out (FFO) method: (b) last- in, first-out (LFO) method, and (c) 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) Last-in, first-out (uro) Weighted average cost 20 units

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