e form illustrated in Exhibit 4 EX 7-7 FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: OBJ. 2, 3 0 Beginning inventory Sale First purchase Sale Second purchase Sale 3,600 units at $4.00 2,400 units at $8.00 8,000 units at $4.20 6,000 units at $8.00 7,500 units at $4.40 5,500 units at $8.00 The firm uses the perpetual inventory system, and there are 5,200 units of the item on hand at the end of the y (a) FIFO, (b) LIFO? ear. What is the total cost of the ending inventory according to EX 7-8 Weighted average cost flow method under perpetual inventory system o8J.3 or cate suringgthe calenclar ear Solowing units of a particular item were available for sate