FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year Beginning inventory 8,500 units at $200 Sale 4,900 units at $310 First purchase 15,400 units at $207 Sale 12,600 units at $310 Second purchase 15,900 units at $214 Sale 13,100 units at $310 The firm uses the perpetual inventory system, and there are 0,200 units of the item on hand at the end of the war This information has been collected in the Microsoft Excel Online file Open the spreadsheet, perform the required analysis, and input your answers in the X Open spreadsheet a. What is the total cost of the ending inventory according to FIFO? Round your answer to the nearest dla $ b. What is the total cost of the ending inventory according to UFO Round your answer to the nearest do $ (Prei > and all Check My Work All work cave