FIFO Perpetual Inventory The beginning inventory of merchandise at Rhodes Co. and data on purchases and sales for a three-month period ending June 30 are as follows:

The beginning inventory of merchandise at Rhodes Co, and data on purchases and sales for a three-month period ending June 30 are as follews: Requiredi 1. Record the Inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similer to the one illustrated in Exhitit 3 , uaing the first-in, first-out in 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 colurnh. 3. Oetarmine the grosa proht from sales for the cerod 4. Oetermine the ending rovenoorr cuat as of June 30