FO and LIFO costs under perpetual inventory system The tollow ing units of an item were available for sale during the year: $1,760,000 Beginning inventory Sale First purchase 7,200 units at $160 4,800 units at $300 16,000 units at $168 12,000 units at $300 Second purchase Sale 15,000 units at $300 11,000 units at $300 at the end and (B) LIFO? e firm uses the perpetual inventory system, and there are 10,400 units of the item of the year. What is the total cost of the ending inventory accordin e item on hand to (A) FIFO Ex 6-9 Weighted average cost flow method under perpetual inventory system The following uni ble for sale during the calendar year: Jan. 1 Inventory 10,000 units at $75.00 Mar. 18 Sale May 2 Purchase 18,000 units at $77.50 Obj. 3 8,000 units