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?FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: Beginning inventory 2 1

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?FIFO and LIFO costs under perpetual inventory system
The following units of an item were available for sale during the year:
Beginning inventory
21 ?units at $41
Sale
First purchase
8 ?units at $59
Sale
35 ?units at $43
Second purchase
26 ?units at $60
Sale
30 ?units at $44
26 ?units at $61
The firm uses the perpetual inventory system, and there are 26 ?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?
$
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