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The firm uses the perpetual inventory system and there are

The following unites of a particular item were available for sale during the year

Beginning inventory100 units at $60
Sale 75 units at $ 112
First purchase 155 units at $65
Sale135 units at $112
Second purchase 200 units at $72
Sale 175 units at $112

The firm uses the perpetual inventory system, and there are 70 units of the item on hand at the end of the year. What is the total cost of the ending inventory according to (a) FIFO, (b) LIFO?

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Cost Accounting: The firm uses the perpetual inventory system and there are

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