PLEASE HELP

FIFO and LIFO costs under perpetual inventory system The following units of an item were avaliable for sale during the year: The firm uses the perpetual inventory system, and there are 7,800 units of the item on hand at the end of the yi This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the require Open spreadsheet 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? x Foodbackfhn * Chock My Work a. Note that this exercise uses the perpetual inventory system. FIFO means that the first units purchased are assumed to comes from the oldest layer - beginning inventory, is the remaining amount of the beginning inventory layer enough to then be considered as the oidest goods to be used for the second sale. If the remainder from the first purchase is not 6 ending inventory. b. Note that this exercise uses the perpetual inventory system. LIFO means the last units purchased are assumed to be 7ayers". The first sale is completely satisfied by the beginning inventory. The second sale will be satisfled by the most inventory and first and second purchases are added together as three layers to calculate the ending inventory