Cheyenne Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Date Explanation Units Unit Cost/Price Total Cost June 1 Beginning inventory 1,500 $5 $7,500 12 Purchases 2,100 6 12,600 15 Sale. (2,670 ) 12 16 Purchases 4,870 7 34,090 23 Purchases 1,590 8 12,720 27 Sales (5,700 15