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: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 72 $300 $21,600 B Purchase 144 360 51,040 11 Sale 96 1,000 96,000 30 Sale May 8 Purchase 120 10 Sale 32 60 1,000 60,000 400 48,000 72 1,000 72,000 19 Sale 36 A 1,000 36,000 28 Purchase 120 440 52,800 June 5 Sale 72 1,050 75,600 16 Sale 96 1,050 100,800 23 21 Purchase 216 480 103,680 28 Sale 108 1,050 113,400