FIFO Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Number of Units Date Transaction Total Apr 3 Crventory 72 $16.200 Per Unit $225 270 750 8 Purchase 750 May Purchase 300 10 Sale 38,880 72.000 45,000 36,000 54,000 27,000 39,600 56,880 75,840 19 Sale 28 Purchase une 5 Sale 16 21 28 Sale Purchase Sale 330 790 790 360 790 216 77,750 85,320 Required: 1. Record the inventory, purchases, and cost of merchandise 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 Merchandise Sold Unit Cost column and in the Inventory Unit Cost column Dunne Co. Schedule of Cost of Merchandise Sold FIFO Method For the three-months ended June 30 Cost of Merchandise Sold Quantity Unit Cost Total Cost Purchases Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost