FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: 29 units at $44 Beginning inventory Sale 26 units at $64 First purchase 15 units at $47 Sale 11 units at $64 Second purchase 17 units at $49 Sale 13 units at $65 The firm uses the perpetual inventory system, and there are 11 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?