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eBook Show Me How FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year:

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FIFO and LIFO costs under perpetual inventory system
The following units of an item were available for sale during the year:
Beginning inventory 23 units at $43
Sale 20 units at $62
First purchase 28 units at $45
Sale 20 units at $64
Second purchase 18 units at $47
Sale 12 units at $66
The firm uses the perpetual inventory system, and there are 17 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?
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