FIFO and LIFO Costs Under Perpetual Inventory System

The following units of a particular item were available for sale during the year:

Beginning inventory	20 units @ $44
Sale	7 units @ $62
First purchase	36 units @ $47
Sale	34 units @ $64
Second purchase	18 units @ $50
Sale	9 units @ $65

The firm uses the perpetual inventory system, and there are 24 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