eBook Show Me How Calculator 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: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 8 Purchase 25 $1,200 1,240 $30,000 93,000 75 11 Sale 40 2,000 30 Sale 30 80,000 60,000 2,000 May 8 Purchase 60 1,260 75,600 10 Sale 50 19 Sale 2,000 2,000 20 28 Purchase 80 1,260 June 5 Sale 100,000 40,000 100,800 90,000 56,250 44,240 40 2,250 16 Sale 25 2,250 1,264 21 Purchase 35 28 Sale 44 2,250 99,000 Required: Check My Work Next > All work saved Email structor Save and Exit Submit Assignment for Grading tv @ 19 W $ % & 7 8 9 DOOR Show Me How Calculator Purchases Unit Cost Date Quantity Total Cost Cost of Goods Sold Unit Cost Quantity Total Cost Inventory Unit Cast Quantity Apr. 3 Total Cost 30,000 25 1,200 s Apr. 8 757 1,240 93,000 25 1,200 30,000 75 1,240 93,000 25 VIS Apr. 11 1,200 VIS 30,000 15 1,240 18,600 60 1,240 Apr. 30 74,400 sis 30 1,240 37,200 30 1.240 37,200 60 May 8 1,260 30 1,240 V 75,600 37,200 ^ 60 1,260 75,600 30 1,240 37,200 May 10 20 1,260 25,200 407 1,260 50,400 May 19 20 V 1,260 M 25,200 20 1,260 25,200 207 1,260 25, 2007 May 28 80 1,260 100,800 1,260 100,800 June 5 40 1,260 50,400 60 1,250 75,600 June 16 25 1,260 31,500 35 1,260 44,100 35 1,250 44,100 June 21 35 1,2647 44,240 35 1,264 44,240 ebook 4 Show Me How Calculator June 5 40 1,260 50,400 June 16 60 1,260 75,600 25 1,260 31,500 35 1,260 44,100 June 21 35 1,264 44,240 35 1,260 44,100 35 1,264 une 28 44,240 35 1,260 44,100 9 1,264 11,376 26 June 30 1,264 Balances 32,864 310,776 310,776 X 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 re on account. If an amount box does not require an entry, leave z blank Record sale Accounts Receivable Record cost Sales Cost of Goods Sold Inventory 3. Determine the gross profit from sales for the period. $ 4. Determine the ending inventory cost on June 30. $ 5. Based upon the preceding data, would you expect the ending inventory using the lastin, first-out method to be higher or lower