FIFO and LIFO costs under perpetual inventory systemThe following units of an item were available for sale during the year:Line Item DescriptionValuesBeginning inventory$7,600$ units at $$170$Sale$5,000$ units at $$320$First purchase$15,100$ units at $$175$Sale$13,000$ units at $$320$Second purchase$16,100$ units at $$179$Sale$14,000$ units at $$320$The firm uses the perpetual inventory system, and there are $6,800$ units of the item on hand at the end of the year.