1) Record the inventory, purchases, and cost of merchandise sold in a perpetual inventory record using the last in, first out method under LIFO, if units are in inventory at two different costs into the units would be higher unit cost first in the cost of merchandise sold unit cost column and lower unit cost in the first inventory unit cost column.

2) Determine the total sales, the total cost of merchandise sold, and the gross profit from the sales period.

3) Determine the ending inventory cost on June 30.

Chaper 7 Problems Number Date Per Unit Total of Units $300 $19,800 47,520 88 1,000 88,000 55 1,000 55,000 44,000 66 1,00066,000 33 1,000 33,000 48,400 69.300 92,400 480 95,040 1,050103.950 8 Purchase 11 Sale 30 Sale 132 May 8 Purchase 110 10 Sale 19 Sale 28 Purchase 110 66 88 198 June 5 Sale 1,050 16 Sale 21 Purchase 28 Sale 1.050 Required: 1. Record the inventory and cost of merchandise sold data in a perpetual inventory record similar to the one llustrated in Eshib