The units of an item available for sale during the year were as follows:
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Jan. 1 Feb. 26
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Inventory Purchase
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18 units at $40 36 units at $46
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June 18
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Purchase
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42 units at $52
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Dec. 29
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Purchase
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24 units at $55
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There are 33 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 average cost method.