FIFO and LIFO Costs Under Perpetual Inventory System The following units of a particular item were available for sale during the year:

Beginning inventory 39 units @ $41 Sale 11 units @ $57 First purchase 17 units @ $42 Sale 28 units @ $58 Second purchase 11 units @ $43 Sale 12 units @ $58 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? $___ b. What is the total cost of the ending inventory according to LIFO? $____