The following units of an item were available for sale during the year:

Beginning inventory	24,000 units @ $43
Sale	21,523 units @ $67
First purchase	32,000 units @ $45
Sale	15,237 units @ $68
Second purchase	26,000 units @ $47
Sale	20,339 units @ $69

The firm uses the perpetual inventory system, and there are 24,901 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? $fill in the blank 1

b. What is the total cost of the ending inventory according to LIFO? $fill in the blank 2

b.

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Weighted Average Cost Flow Method Under Perpetual Inventory System

The following units of a particular item were available for sale during the calendar year:

Jan. 1	Inventory	15,000	units at $60.00
Mar. 18	Sale	12,000	units
May 2	Purchase	27,000	units at $62.00
Aug. 9	Sale	22,500	units
Oct. 20	Purchase	10,500	units at $64.20

The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary.