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FIFO and LIFO costs under perpetual Inventory system The following units of an item were...

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Accounting

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FIFO and LIFO costs under perpetual Inventory system The following units of an item were available for sale during the year Beginning inventory 7,000 units at $170 Sale 4,700 units at $320 First purchase 15,800 units at $177 Sale 11,800 units at $320 Second purchase 15,300 units at $186 Sale 11,300 units at $320 The firm uses the perpetual inventory system, and there are 10,300 units of the item on hand at the end of the year. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. x HHI Open spreadsheet A. What is the total cost of the ending inventory according to FIFO? Round your answer to the nearest dollar $ B. What is the total cost of the ending inventory according to LIFO? Round your answer to the nearest dollar

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