FIFO and LIFO Costs Under Perpetual Inventory System. The following units of a particular item were available for sale during the year: Beginning inventory 50 units @ $42, Sale 43 units @ $65, First purchase 36 units @ $44, Sale 11 units @ $66, Second purchase 16 units @ $46, Sale 6 units @ $66. The firm uses the perpetual inventory system, and there are 42 units of the item on hand at the end of the year. What is the total cost of the ending inventory according to FIFO? What is the total cost of the ending inventory according to LIFO?