FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 8,100 units at $180 5,300 units at $300 15,000 units at $185 13,000 units at $300 16,000 units at $192 14,000 units at $300 The firm uses the perpetual inventory system, and there are 6,800 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 First purchase Sale Second purchase Sale b. What is the total cost of the ending inventory according to LIFO?

FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were avallable for sale during the year: The firm uses the perpetual inventory system, and there are 6,800 units of the item on hand at the end of the year: a. What is the total cost of the ending inventory according to Firo? b. What is the total cost of the ending inventory according to LIFO