FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 20 units at $43 Sale 17 units at $69 First purchase 38 units at $44 Sale 34 units at $70 Second purchase 19 units at $45 Sale 17 units at $71 The firm uses the perpetual inventory system, and there are 9 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