please answer a, b, and c

Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: There are 16 units of the item in the physical inventory at December 31 . The periodic inve out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost m nearest whole dollar). The units of an item available for sale during the year were as follows: There are 5 units of the item in the physical inventory at December 31 . The periodic inventory system is used answers to the nearest whole dollar, if required. a. Determine the inventory cost by the first-in, first-out method. x b. Determine the inventory cost by the last-in, first-out method. x c. Determine the inventory cost by the weighted average.cost method. x Feedback F Check My Woik a. Note that this exercise uses the periodic inventory system. FIFO means that the first units purchased ar inventory costs for the period are calculated by taking the number of items remaining in the physical inven number of items in last purchase layer is less than the number in ending inventory, the balance of the endi most recent purchase cost. The cost of goods sold for the period can be calculated by subtracting the endin sale. b. Note that this exercise uses the periodic inventory system. LIFO means the last units purchased are assu inventory for the period is made up of the earilest costs from the period (the beginning inventory). If the nu the units in the beginning inventory, the excess units will be recorded at the next oldest cost associated with