FIFO and LIFO Costs Under Perpetual Inventory System

The following units of an item were available for sale during the year:

Beginning inventory

$27$ units at $$48$

Sale

First purchase

$23$ units at $$74$

Sale

$16$ units at $$49$

Second purchase

$11$ units at $$76$

Sale

$29$ units at $$50$

$27$ units at $$78$

The firm uses the perpetual inventory system, and there are $11$ 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?

$