2) The following units of an item were available for during the year: Beginning Inventory 4,000 units at $5.00 Sale 2,600 units at $10.00 Purchase 1 7,000 units at $5.50 Sale 5,000 units at $10.00 Purchase 2 8,000 units at $6.00 Sale 6,400 units at $10.00 Instructions: The company uses the perpetual inventory system, and there are 5,000 units on hand at the end of the year. What is the total cost of ending inventory for (a) FIFO and (b) LIFO? (10 points)