FIFO Perpetual Inventory ebook Show Me How 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 Apr. 3 Inventory of Units Per Unit Total 8 Purchase 11 Sale 30 Sale May 8 Purchase 10 Sale 19 Sale 201 Purchase June 5 Sale 16 Sale 21 Purchase 126 8 42 5225 $9,450 84 270 22,680 56 750 42,000 35 750 26,250 70 300 21,000 42 750 31,500 21 750 15,750 70 350 23,100 42 790 33,180 56 790 44,240 360 45,360 20 Sale 63 790 49,770 Required: 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one ilustrated 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 cutumn and in the Inventory Unit Cost column, 77F Clear 10134 1/1000