Beginning inventory, purchases, and sales for an inventory item are as follows:

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Question 13 Beginning inventory, purchases, and sales for an inventory item are as follows: Beginning inventory 150 units @ S755 Sal 120 units irst purchase Sale 00 units@ $8os Second purchase Sale 90 units The firm uses the perpetual inventory system and there are 240 units of the item on hand at the end of the year. What is the total cost of ending inventory according to FIFO? Beginning inventory, purchases, and sales for an inventory item are as follows: 150 units@ S755 eginning inventory Sale irst purchase 00 units Sale Second purchase 00 units@S805 Sale 290 units The firm uses the perpetual inventory system and there are 240 units of the item on hand at the end of the year. What is the total cost of ending inventory according to LIFO