Periodic Inventory Using FIFO, LIFO, and Weighted Averoge Cost Methods The units of an item available for saie during the year were as follows: There are 12 unis of the item in the physical inventory at becember 3:. The penodic inventory system is used, Determine the inventory cost using (a) the first-in, firstout (FIFO) method; (b) the iast-in, first-out (UFO) method; and (c) the weighted average cost methed (round per unit cost to two decimal places and your final answer to the nearest whole dollar)