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Beginning inventory 50 units at $40 Sale 38 units at $62 First purchase 38 units...

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Accounting

Beginning inventory 50 units at $40 Sale 38 units at $62 First purchase 38 units at $42 Sale 37 units at $63 Second purchase 16 units at $43 Sale 14 units at $63 The firm uses the perpetual inventory system, and there are 15 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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