FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: Beginning inventory 8,000 units at $160 5,800 units at $280 15,100 units at $165 13,500 units at $280 15,600 units at $174 14,000 units at $280 Sale- First purchase Sale Second purchas Sale The firm uses the perpetual inventory system, and there are 5,400 units of the item on hand at the end of the year. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet a. What is the total cost of the ending inventory according to FIFO? Round your answer to the nearest dollar. $ b. What is the total cost of the ending inventory according to LIFO? Round your answer to the nearest dollar. $ Check My Work 5 more Check My Work uses remaining. Previous Next

FIFO and UFO costs under perpetuat inventory system The following units of an item were avallable for sle during the vear: The firm utes the perpetual inventary system, and there are 5,400 units of the itern on hand at the end of the year. Open spreadsheet a. What is the total cost of the ending imventery acconding to frro? gound vour andwer to the nearest dollat. 5 B. What is the fotal cost the ending inventory according to urof Round vou answer to the nearest delest FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: Using formulas and cell references, perform the required analysis, and input your answers into the Inventory 3 Cost column. Transfer the numeric results for the green entry cells (B16:B17) into the appropriate fields in CNOWV2 for grading