FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 25,000 units @ $45 Sale 16,083 units @ $63 First purchase 27,000 units @ $47 Sale 3,842 units @ $65 Second purchase 24,000 units @ $49 Sale 50,823 units @ $66 The firm uses the perpetual inventory system, and there are 5,252 units of the hand at the end of the year. a. What is the total cost of the ending inventory according to FIFO? on S b. What is the total cost of the ending inventory according to LIFO