The units of an item available for sale during the year were as follows: Jan. 1 Inventory 15 units at $29 $435 Aug. 7 Purchase 17 units at $30 510 Dec. 11 Purchase 15 units at $31 465 47 units $1,410 There are 16 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 weighted average cost method (round per unit cost to two decimal places and your final answer to the nearest whole dollar).
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