FIFO and LIFO Costs Under Perpetual Inventory System

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

Beginning inventory	43,000 units @ $49
Sale	11,436 units @ $74
First purchase	18,000 units @ $50
Sale	38,539 units @ $74
Second purchase	22,000 units @ $53
Sale	32,656 units @ $76

The firm uses the perpetual inventory system, and there are 369 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?