1. LIFO Perpetual Inventory

The beginning inventory of merchandise at Rhodes Co. and data on purchases and sales for a three-month period ending June 30 are as follows:

Date		Transaction	Number of Units		Per Unit		Total
Apr. 3		Inventory	60		$600		$36,000
8		Purchase	120		720		86,400
11		Sale	80		2,000		160,000
30		Sale	50		2,000		100,000
May 8		Purchase	100		800		80,000
10		Sale	60		2,000		120,000
19		Sale	30		2,000		60,000
28		Purchase	100		880		88,000
June 5		Sale	60		2,100		126,000
16		Sale	80		2,100		168,000
21		Purchase	180		960		172,800
28		Sale	90		2,100		189,000

a. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record, using the last-in, first-out method. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.

b. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period

c. Determine the ending inventory cost on June 30.