FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: Beginning inventory 8,200 units at $180 Sale 5,200 units at $320 First purchase 14,600 units at $187 Sale 12,600 units at $320 Second purchase 15,600 units at $193 Sale 13,600 units at $320 The firm uses the perpetual inventory system, and there are 7,000 units of the item on hand at the end of the year. This information has been collected in the Microsoft Excel Online file. Open the