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What is total cost of the ending inventory according to fifo

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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 inventory25,000 units @ $49Sale15,769 units @ $78

First purchase34,000 units @ $52Sale30,023 units @ $78

Second purchase29,000 units @ $54Sale14,086 units @ $78

The firm uses the perpetual inventory system, and there are 28,122 units of the item on hand at the end of the year.

Problem a. What is the total cost of the ending inventory according to FIFO?

Problem b. What is the total cost of the ending inventory according to LIFO?

Reference no: EM132813350

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