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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	25 units at $50
   Sale	15 units at $75
   First purchase	32 units at $53
   Sale	29 units at $76
   Second purchase	25 units at $54
   Sale	19 units at $78

   The firm uses the perpetual inventory system, and there are 19 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? $fill in the blank 1

   b. What is the total cost of the ending inventory according to LIFO? $fill in the blank 2