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FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 2 9

FIFO and LIFO Costs Under Perpetual Inventory System
The following units of an item were available for sale during the year:
Beginning inventory 29 units at $41
Sale
21 units at $64
First purchase
29 units at $44
Sale
22 units at $66
Second purchase
30 units at $46
Sale
27 units at $67
The firm uses the perpetual inventory system, and there are 18 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?
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