ventory FIFO and LIFO Costs Under Perpetual The following units of an item were available for sale during the year: 33 units at $47 Beginning inventory 14 units at $73 Sale 24 units at $49 First purchase 35 units at $75 Sale 14 units at $50 Second purchase 11 units at $76 Sale The firm uses the perpetual inventory system, and there are 11 units of the item on hand at the end of the year. FIFO? a. What is the total cost of the ending inventory according b. What is the total cost of the ending inventory according to LIFO