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FIFO and LIFO Costs Under Perpetual Inventory System (Please show work, I get lost when doing FIFO) thanks! The following units of an item were

FIFO and LIFO Costs Under Perpetual Inventory System

(Please show work, I get lost when doing FIFO) thanks!

The following units of an item were available for sale during the year:

Beginning inventory 40 units at $44
Sale 27 units at $64
First purchase 25 units at $45
Sale 19 units at $64
Second purchase 15 units at $47
Sale 6 units at $65

The firm uses the perpetual inventory system, and there are 28 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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