COGS End Inventory Total Beg The following units of an item were available for sale during the year: Beginning inventory 20 units at $43/unit Sale 15 units at $60/unit First purchase 40 units at $46/unit Sale 10 units at $62/unit Second purchase 20 units at $48/unit Sale 14 units at $64/unit Inventory units unit cost units 20 $ 43 15 40 $ 46 10 20 $ 64 14 FIFO LIFO End The firm uses the perpetual inventory system. a. What is the total cost of the ending inventory according to FIFO? b. What is the COGS for the second sale (10 units) using FIFO? c. What is the total cost of the ending inventory according to LIFO? b. What is the COGS for the second sale (10 units) using LIFO? LIFO FIFO units COGS COGS units * units units units units units /unit /unit /unit /unit units units units units /unit /unit /unit * End Inventory units End Inventory units /unit /unit * units units units * units units units units : /unit /unit /unit Total = Total =