eBook Show Me How Calculator FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory Sale First purchase Sale Second purchase Sale The firm uses the perpetual inventory system, and there are 31,200 units of the item on hand at the end of the yea a. What is the total cost of the ending inventory according to FIFO? 21,600 units at $20.00 14,400 units at $40.00 48,000 units at $25.20 36,000 units at $40.00 45,000 units at $26.40 33,000 units at $40.00 b. What is the total cost of the ending inventory according to LIFO? check My Work 2 more Check My Work uses remaining