February 1 Beginning inventory 20 units @ $40;
February 6 Purchases 60 units @ $42;
February 17 Sales 50 units @ $80;
February 23 Purchases 40 units @ $46;
February 30 Sales 28 units @ $85.
What is ending inventory on a perpetual FIFO basis and what is ending inventory on a perpetual LIFO basis?
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