FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: Beginning inventory 6,700 units at $150 Sale 4,600 units at $310 First purchase 16,000 units at $157 Sale 12,500 units at $310 Second purchase 15,500 units at $165 Sale 12,000 units at $310 The firm uses the perpetual inventory system, and there are 9,100 units of the item on hand at the end of the year. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your the questions below. X THEHT Open spreadsheet A. What is the total cost of the ending inventory according to FIFO? Round your answer to the nearest dollar. $ B. What is the total cost of the ending inventory according to LIFO? Round your answer to the nearest dollar. $ Check My Work