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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: Line Item Description Units

FIFO and LIFO costs under perpetual inventory system
The following units of an item were available for sale during the year:
Line Item Description Units and Cost
Beginning inventory 42 units at $42
Sale 37 units at $61
First purchase 18 units at $45
Sale 8 units at $62
Second purchase 30 units at $46
Sale 29 units at $63
The firm uses the perpetual inventory system, and there are 16 units of the item on hand at the end of the year.
a. What is the total cost of the ending inventory according to FIFO?
fill in the blank 1 of 2$
736
b. What is the total cost of the ending inventory according to LIFO?
fill in the blank 2 of 2$

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