FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: Beginning inventory 7,900 units at $190 5,100 units at $300 15,300 units at $193 12,600 units at $300 15,800 units at $199 13,100 units at $300 The firm uses the perpetual inventory system, and there are 8,200 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 answers in the questions below. Sale First purchase Sale Second purchase Sale X Open spreadsheet 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? 14,378,100 X

The following units of an item were avallable for sale during the year: The firm uses the perpetual inventory system, and there are 8,200 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 answers in the questions below. Open spreadsheet 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? The following units of an item were avallable for sale during the year: The firm uses the perpetual inventory system, and there are 8,200 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 answers in the questions below. Open spreadsheet 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