FifO Perpetual Inventory The beginning inventory at Dunne C0. and data on purchases and sales for a three-month period ending June 30 are as follows: 2. Determine the total sales and the total cost of goods sold for the period. Journalize summary entries for the sales and corresponding cost of goods sc sales were on account: If an amount box does not require an entry, leave it blank. 3. Determine the gross profit from sales for the period. 4. Determine the ending inventory cost as of June 30 . \$ 5. Based upon the preceding data, would you expect the ending inventory using the last-in, first-out method to ge higher or lower