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Hello, I need help with this question. I put THUMBS UP if it's correct. Thank you! :) FIFO and LIFO Costs Under Perpetual Inventory System

Hello, I need help with this question. I put THUMBS UP if it's correct. Thank you! :)

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FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 22 units @ $45 Sale 9 units @ $70 First purchase 35 units @ $46 Sale 26 units @ $71 Second purchase 28 units @ $48 Sale 23 units @ $71 The firm uses the perpetual inventory system, and there are 27 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? 1,296 b. What is the total cost of the ending inventory according to LIFO? 1,229

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