2. Gross profit, 52,252,250 PR 7-2A LIFO perpetual inventory OBJ. 2,3 The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period are shown in Problem 7-1A. Instructions 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the last-in, first-out method 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period 3. Determine the ending inventory cost as of March 31, 2016. ME HOW Arial - 10 -A A E S E 2. - Cut Copy Format Painter Clipboard Wrap Text Merge & Center - BIU.. .A $ - % 68- Font Alignment Number B x fc D A B C E F G H I J K L Inventory Purchases Unit Cost Total Cost Cost of Merchandise Sold Unit Total Quantity Cost Cost Unit Quantity Date Jan. 1 Quantity 2,500 Cost $60.00 Total Cost 150,000 $ Feb. 5 Nne 28999 Pr. 7-2A BIU to Copy Format Painter Clipboard - 9A-3 Merge & Center - $ - % 9 Font Alignment Number A B C D E F G H I 31 Balances emmar Total sales Total cost of goods sold Gross profit Ending inventory cost Pr. 7-9A 2. Gross profit, 52,252,250 PR 7-2A LIFO perpetual inventory OBJ. 2,3 The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period are shown in Problem 7-1A. Instructions 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the last-in, first-out method 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period 3. Determine the ending inventory cost as of March 31, 2016. ME HOW Arial - 10 -A A E S E 2. - Cut Copy Format Painter Clipboard Wrap Text Merge & Center - BIU.. .A $ - % 68- Font Alignment Number B x fc D A B C E F G H I J K L Inventory Purchases Unit Cost Total Cost Cost of Merchandise Sold Unit Total Quantity Cost Cost Unit Quantity Date Jan. 1 Quantity 2,500 Cost $60.00 Total Cost 150,000 $ Feb. 5 Nne 28999 Pr. 7-2A BIU to Copy Format Painter Clipboard - 9A-3 Merge & Center - $ - % 9 Font Alignment Number A B C D E F G H I 31 Balances emmar Total sales Total cost of goods sold Gross profit Ending inventory cost Pr. 7-9A