FIFO and LIFO Costs Under Perpetual Inventory System The following units of a particular item were available for sale during the year: Beginning inventory 40 units @ $42 Sale 25 units @ $63 First purchase 33 units @ $43 Sale 6 units @ $65 Second purchase 30 units @ $45 Sale 35 units @ $65 The firm uses the perpetual inventory system, and there are 37 units of the item on hand at the end of the year. What is the total cost of the ending inventory according to FIFO? What is the total cost of the ending inventory according to LIFO?