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: Beginning inventory Sale 23,000 units @ $45 First purchase Sale Second purchase Sale 14,089 units $63 27,000 units $46 10,428 units @ $63 29,000 units @ $49 27,654 units $63 The firm uses the perpetual inventory system, and there are 26,829 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?