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The following units of an item were available for sale during the year: Beginning inventory 20 units @ $42 Sale 17 units @ $61 First

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

Beginning inventory 20 units @ $42
Sale 17 units @ $61
First purchase 24 units @ $43
Sale 21 units @ $62
Second purchase 30 units @ $45
Sale 14 units @ $63

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