1. Modern Dcor Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500. During the month, Modern Dcor purchased and sold merchandise on account as follows: June Purchases so 5750 each 18 al sofas 1.150 each 18 chega sa $775 each 27 35 5.200 each Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. 1 Cost of Goods Sold Inventory on Hand Purchases Quant Unit Total Quant Unit Cost Cost Cost Total Quant Unit Cost Cost Total Cost Date 2 McClain Designs Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500. During the month, McClain Designs purchased and sold merchandise on account as follows: Pune Purchas25 safas 5750 cach 14 Sale 30 1.150 each IsPachas so sofas 5725 each 13 setas 1.200 Prepare a perpetual inventory record, using the weighted- average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. (Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Purchases Cost of Goods Sold Inventory on Hand Quant Unit Total Quant Unit Total Quant Unit Cost Cost Cost Cost Cost Cost Total Date