The following units of a particular item were available for sale during the year: beginning inventory 100 units @ $60 sale 75 units @ $112 First purchase 155 units @ $65 sale 135 units @ $112 second purch 200 units @ $72 sale 175 units @ 112 The firm uses the perpetual inventory system, and three are 70 units of the item on hand at the end of the year. What is the total cost of the ending inventory according to (a) FIFO (b) LIFO