2. Determine the total sales and the total cost of goods sold for the period. Journalize the entries in the sales and cost of goods sold accounts. Assume that all sales were on account. Record Accounts Receivable sale 156,450 Sales 404,215 Record Cost of Goods Sold cost 156,450 Inventory 46,200 X FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Number Date Transaction of Units Per Unit Total Apr. 3 Inventory 42 $375 $15,750 8 Purchase 84 450 37,800 11 Sale 56 1,250 70,000 30 Sale 35 1,250 43,750 May & Purchase 70 500 35,000 10 Sale 42 1,250 52,500 19 21 1,250 26,250 28 Purchase 70 550 38,500 unes sale 42 1,315 $5,230 16 Sale 56 1,315 73,640 21 Purchase 126 600 75,600 28 Sale bs 1,315 82,845 Sale Read