The firm uses the perpetual inventory system and there are

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Begin inventory 36@400
sales 24@1000
first purchase 80@420
sales 60@1000
second purchase 75@440
sales 55@1000

The 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?

Reference no: EM13586949

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