FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 21,000 units @ $50 Sale 14,216 units @ $78 First purchase 33,000 units @ $52 Sale 27,668 units @ $80 Second purchase 23,000 units @ $53 Sale 12,932 units @ $81 The firm uses the perpetual inventory system, and there are 22,184 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? $