FIFO and LIFO Costs Under Perpetual Inventory System The foliowing units of an item were available for sale during the year: Beginning inventory 21 units at $47 Sale 12 units at $73 First purchase 22 units at $50 Sale 20 units at $75 Second purchase 28 units at $53 Sale 19 units at $75 The rm uses the perpetual inventory system. and there are 20 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 t he ending inventory according to LIFO