Question: please dumb it down how this is done I dont understand FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item

please dumb it down how this is done I dont understand

FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 36 units at $44 Sale 27 units at $62 First purchase 34 units at $47 Sale 33 units at $63 Second purchase 27 units at $49 Sale 25 units at $65 The firm uses the perpetual inventory system, and there are 12 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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