FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 33 units at $44 Sale 28 units at $66 First purchase 37 units at $45 Sale 6 units at $67 Second purchase 29 units at $48 Sale 53 units at $68 The firm uses the perpetual inventory system, and there are 12 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? $