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 $47 $893 Aug. 13 Purchase 9 units at $48 432 Nov. 30 Purchase 5 units at $50 250 Available for sale 33 units $1,575 There are 13 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (0) in, first-out (FIFO) method; (b) last-in, first-out (LFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your answer to the nearest whole dollar). a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO)