eBook Show Me How Calculator E Print Item FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 29 units at $42 Sale 11 units at $63 First purchase 16 units at $43 Sale 15 units at $65 Second purchase 19 units at $46 Sale 24 units at $67 The firm uses the perpetual Inventory system, and there are 14 units of the item on hand at the end of the year. a. What is the total cost of the ending inventory according to FIFO? b. What is the total cost of the ending inventory according to LIFO? Print em FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 29 units at $42 Sale 11 units at $63 First purchase 16 units at $43 Sale 15 units at $65 Second purchase 19 units at $46 Sale 24 units at $67 The firm uses the perpetual inventory system, and there are 14 units of the item on hand at the end of the year. a. What is the total cost of the ending inventory according to FIFO? b. What is the total cost of the ending inventory according to LIFO