Don Hawk Furnishings sells a variety of decorative pieces including a variety of candle holders. The business began the second quarter (April to June) of 2018 with 15 (Alanea) candle holders at a total cost of $108,750. The following transactions relating to the Alanea candle holders were completed during the quarter.

April 7 90 candle holders were purchased at a cost of $6,850 each. In addition the business paid freight charges of $800 cash on each candle holder to have the inventory shipped from the point of purchase to their warehouse.

April 30 The sales for April were 75 candle holders which yielded total sales revenue of $803,250. ( 15 of these units were sold on account to longstanding customers of the business)

May 6 A new batch of 80 candle holders was purchased at a total cost of $654,800

May 9 Upon inspection of the candle holders purchased on May 6, five (5) of the units were found to be defective and were returned to the supplier.

May 31 During the month 62 of the decorative pieces were sold at a price of $11,450 each. J

une 5 A customer, to whom 7 of the candle holders were sold during the first business day of May, returned 3 of the candle holders, as they were of another make & model.

June 14 Owing to an increased demand, a further 110 candle holders were purchased at a cost of $9,000 each; the supplier gave a 3% quantity discount on the purchase.

June 30 116 candle holders were sold during June at a unit selling price of $12,250.

June 30 An actual count of inventory was carried out at the close of business which revealed that there were 36 pieces of the Alanea brand of merchandise in the store room.

. Required:

(A) Prepare a perpetual inventory record for this merchandise, using the first in, first out (FIFO) method of inventory valuation to determine the companys cost of goods sold for the quarter and the value of ending