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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	25	$1,200	$30,000
8	Purchase	75	1,240	93,000
11	Sale	40	2,000	80,000
30	Sale	30	2,000	60,000
May 8	Purchase	60	1,260	75,600
10	Sale	50	2,000	100,000
19	Sale	20	2,000	40,000
28	Purchase	80	1,260	100,800
June 5	Sale	40	2,250	90,000
16	Sale	25	2,250	56,250
21	Purchase	35	1,264	44,240
28	Sale	44	2,250	99,000

Required:

1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, using the first-in, first-out method. Under FIFO, 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 Inventory Unit Cost column. This is what columns are in the table.

Date	Purchases Quantity	Purchases Unit Cost	Purchases Total Cost	Cost of Goods Sold Quantity	Cost of Goods Sold Unit Cost	Cost of Goods Sold Total Cost	Inventory Quantity	Inventory Unit Cost	Inventory Total Cost