FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: The firm uses the perpetual inventory system, and there are 28,049 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? Periodic Inventory by Three Methods The units of an item avallable for sale during the year were as follows: There are 11 units of the item in the physical lnventory at December 31. The periodic inventory system is used. a. Determine the inventory cost by the first-in, first-aut method. b. Determine the inventory cost by the last-in, first-out method. c. Determine the inventory cost by the weighted average cost method, Round average unit cost to the nearest cent and final answers to the neares whole dollar, if required