FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 26 units at $42 19 units at $61 Sale First purchase 33 units at $44 Sale 31 units at $63 Second purchase 12 units at $46 Sale 9 units at $63 The firm uses the perpetual inventory system, and there are 12 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?