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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 , 4

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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 ,49 units at $48
Sale ,37 units at $70
First purchase ,19 units at $51
Sale ,17 units at $72
Second purchase ,23 units at $53
Sale ,16 units at $73
The firm uses the perpetual inventory system, and there are 21 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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