ellook Show Me How Office 365 Print tem 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 7,700 units at $170 5,300 units at $300 14,900 units at $173 13,100 units at $300 15,400 units at $179 13,600 units at $300 The firm uses the perpetual inventory system, and there are 6,000 units of the item on hand at the end of the year This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions belon X 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?