FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 43 units at $45 Sale 11 units at $72 First purchase 28 units at $46 Sale 52 units at $72 Second purchase 10 units at $47 Sale 10 units at $73 The firm uses the perpetual inventory system, and there are 8 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? $