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 Date Transaction of Units Per Unit Total Apr. 3 Inventory $S375 $33,750 3 Purchase 180 450 81,000 11 Sale 120 1,250 150,000 30 Sale 75 1,250 93,750 May 8 Purchase 150 S00 75,000 10 Sale 1,250 112,500 19 Sale 1,250 56,250 28 Purchase 150 550 82,500 June 5 Sale 16 Sale 120 1,31s 1,315 600 1,315 118,350 157,800 162,000 177,525 21 Purchase 270 28 Sale 135 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