FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: Line Item Description Units and Cost Beginning inventory 28 units at $44 Sale 19 units at $62 First purchase 23 units at $45 Sale 18 units at $62 Second purchase 22 units at $48 Sale 20 units at $62 The firm uses the perpetual inventory system, and there are 16 units of the item on hand at the end of the year. a. What is the total cost of the ending inventory according to FIFO? fill in the blank 1 of 2$ b. What is the total cost of the ending inventory according to LIFO? fill in the blank 2