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 19 units at $31 $589 Aug. 13 Purchase 9 units at $33 297 Nov. 30 Purchase 8 units at $34 272 Available for sale 36 units $1,158 There are 22 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 (FIFO) method; (b) last-in, first-out (LIFO) 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) 9,438 X b. Last-in, first-out (LIFO) a. C Weighted average cost Lower-of-Cost-or-Market Method On the basis of the following data, determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each Inventory item, as shown in Exhibit 10. Market Value per Unit (Net Realizable Value) Item Inventory Quantity Cost per Unit JFW1 62 $24 $26 SAW9 125 12 8