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 $41 Sale 14 units at $62 First purchase 16 units at $42 Sale 12 units at $64 Second purchase 25 units at $43 Sale 15 units at $64 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? $fill in the blank 1 b. What is the total cost of the ending inventory according to LIFO? $fill in the blank 2