Business
Business, 24.12.2019 19:31, kaaylon8285

Fifo and lifo costs under perpetual inventory systemthe following units of a particular item were available for sale during the year: inventory | 36 units @ $400sale | 24 units @ $1,000first purchase | 80 units @ $420sale | 60 units @ 1,000second purchase | 75 units @ $440sale | 55 units @ $1,000the firm uses the perpetual inventory system, and there are 52 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? b. what is the total cost of the ending inventory according to lifo?

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