The units of an item available for sale during the year were as follows:

There are 23 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) The first-in, first-out (FIFO) method;(b) The last-in, first-out (LIFO) method; and (c) The average costmethod.

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S 1,200 1 10 units at $120 Inventory Jan Purchase Purchase 130 units at $114 20 units at 5119 14,820 Apr 13 Sept. 30 Avalable for sale 2,180 160 units S18,400