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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

$8,600$ units at $$200$

Sale

$5,600$ units at $$280$

First purchase

$15,400$ units at $$205$

Sale

$13,000$ units at $$280$

Second purchase

$15,900$ units at $$210$

Sale

$13,500$ units at $$280$

The firm uses the perpetual inventory system, and there are $7,800$ units

This information has been collected in the Microsoft Excel Online file. Ope

Open spreadsheet

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?