31 eBook Show Me How Print Item 130 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 78 $375 $29,250 B Purchase 156 450 70,200 11 Sale 104 1,250 130,000 30 Sale 65 1,250 81,250 1 May 8 Purchase 500 65,000 10 Sale 78 1,250 97,500 19 Sale 39 1,250 48,750 28 Purchase 130 550 71,500 June 5 Sale 78 1,315 102,570 16 Sale 104 1,315 136,760 21 Purchase 234 600 140,400 38 Sole 117 1,315 153,855 Required icond the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, using the first in, first out method Under HIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the cost of Goods Sold Unit Cost column and in the tnventory Unit Cost column Next Chey won All work saved Email Instructor Save and Exit Submit Assignment for Grading etc Show Me How Printem C. Dunne Co. Schedule of Cost of Goods Sold FIFO Method For the Three Months Ended June 30 Cost of Goods Sold Quantity Unit Cost Total Cost Purchases Unit Cost Inventory Unit Cost Date Quantity Total Cost Total Cost Quantity 78 3 375 29,250 . 156 450 70,200 156 450 70,200 11 III. 130 500 65,000 y 10 y 19 28 130 550 71,500 Check My Work Next > 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 on account. If an amount box does not require an entry, leave it blank