FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: 21 units at $40 Beginning inventory Sale 11 units at $58 First purchase 15 units at $43 Sale 10 units at $59 30 units at $44 Second purchase Sale 25 units at $59 The firm uses the perpetual inventory system, and there are 20 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? A b. What is the total cost of the ending inventory according to LIFO