FIFO and LIFO Costs Under Perpetual Inventory System The following units of an Item were available for sale during the year: Beginning Inventory 22,000 units @ $50 Sale 4,505 units @ $73 First purchase 33,000 units @ $53 Sale 29,975 units @ $73 Second purchase 27,000 units @ $54 24,610 units @ $75 The firm uses the perpetual Inventory system, and there are 22,910 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? sale b. What is the total cost of the ending Inventory according to LIFO? Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 1,045 units @ $122 Feb. 17 Purchase 1,420 units @ $123 July 21 Purchase 1,690 units $126 Nov. 23 Purchase 1,140 units @ $126 There are 1,215 units of the item in the physical Inventory at December 31. The periodic Inventory system is used. a. Determine the Inventory cost by the first-In, first-out method. b. Determine the Inventory cost by the last-in, first-out method. c. Determine the Inventory cost by the weighted average cost method. Do not round intermediate calculation and round final answer to the nearest whole dollar