FIFO and LIFO Costs Under Perpetual Inventory System

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

Beginning inventory 21 units @ $44

Sale 7 units @ $68

First purchase 37 units @ $45

Sale 34 units @ $69

Second purchase 30 units @ $46

Sale 25 units @ $71

The firm uses the perpetual inventory system, and there are 22 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? $