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The following units of an item were available for sale during the year: Beginning inventory 22,000 units @ $41 Sale 13,059 units @ $64 First

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

Beginning inventory 22,000 units @ $41
Sale 13,059 units @ $64
First purchase 38,000 units @ $43
Sale 36,235 units @ $66
Second purchase 27,000 units @ $46
Sale 15,491 units @ $67

The firm uses the perpetual inventory system, and there are 22,215 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

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