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FIFO and LIFO Costs Under Perpetual Inventory SystemThe following units of an item were available for sale during the year:The firm uses the perpetual inventory

FIFO

and

LIFO

Costs Under Perpetual Inventory

SystemThe following units of an item were available for sale during

the year:The firm uses the perpetual inventory system, and there are

10, 400

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?

.

What is the total cost of the ending

inventory according to LIFO?

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