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 follow- a Number Date Transaction of Units Per Unit Total Apr. 3 Inventory 42 $375 $15,750 8 Purchase 84 450 37,800 11 Sale 56 1,250 70,000 30 Sale 35 1,250 43,750 May 8 Purchase 70 500 35,000 10 Sale 42 1,250 52,500 19 Sale 21 1,250 26,250 28 Purchase 70 550 38,500 June 5 Sale 42 1,315 55,230 16 Sale 56 1,315 73,640 21 Purchase 126 600 75,600 28 Sale 63 1,315 82,845 Required: 3 Problems Rhodes Co. Schedule of Cost of Merchandise Sold FIFO Method For the three months ended June 30 Purchases Cost of Merchandise Sold Inventory Dale Quantity Unit Cost Total cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Ant A 11 Ape 30 May May to May 10 Jemine the total sales and the total cost of merchandise sold for the period. Journal theatres in the sales and cost of merchandise sold accounts. Assume that all sales were on account. If an amount box does not require an entry leave it bank Description Post Ret Debit Credit Records Record 3. Determine the grous profit from sales for the 1. Determine the ringetoraste 10 5. ted on the prodigd other the theo