The units of an item available for sale during the year were as follows:
Jan. 1 ............... Inventory ............... 200 units at $60
Feb. 17 ............. Purchase ................. 275 units at $64
July 21 ............. Purchase ................. 300 units at $68
Nov. 23 ............ Purchase ................ 225 units at $70
There are 220 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost by
(a) The first-in, first-out method,
(b) The last-in, first-out method, and
(c) The weighted average cost method.