Periodic inventory using FIFO, UFO, 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 $37 $703

Aug. 13 Purchase 13 units at $38 494

Nov. 30 Purchase 7 units at $40 280

Available for sale 39 units $1,477

There are 23 units of the item in the physical inventory at December 31. The periodic invemtory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method, (b) last-in, first-out (LIFO) method, (c ) weighted average cost method (round per-unit cost to two decimal places and your finsl answer to the nearest whole dollar).

a. First-in, first-out (FIFO) method

b. Last-in, first-out (UFO) method

c. Weighted average cost method