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: Number of Units Date Transaction Per Unit Total Apr. 3 Inventory 36 $525 $18,900 8 Purchase 72 630 45,360 11 Sale 48 1,750 84,000 30 Sale 30 1,750 52,500 May 8 Purchase 60 700 42,000 10 Sale 36 1,750 63,000 31,500 19 Sale 18 1,750 28 Purchase 60 770 46,200 June 5 Sale 36 1,840 66,240 I 16 Sale 48 1,840 88,320 21 Purchase 10B B40 90,720 28 Sale 54 1,840 99,360 Required: 1. Recovery purchases and commentando in perpetua vetery recorto the one strated in the worst mit der Pro two with the LOWER i continent de Sant Cost and in the wory Cow Rhodes Co Schedule of Cost of Merchandise FIFO Method For the three months ended June 30 Purchase Cost of Merchandise Inventory Date Quantity Unit Cost Total Cove Quantity Unit Cost Total Cast Quantity Unit Cout Total Cost AC 56 525 18.900 At 72 6.30 45,360 Ape 30 01 - Per 10 2 Dedy Work Previous Next Pune une 16 June 21 June 2 Me 10 Belance 2. Determine the tools and the total cost of merchandise old for the end. Jourt the entries in the sales and cont of merchandise sol accounts. Assume that alles were on court. It box does not resure an entry leave tank Description Post Ret Debit Credit Reconds Record cost 3. Determine the gross profit from sales for the period 4. Determine the ending invece costs of June 30 S. Bened on the precedat would you expect the trying the routed to be higher or lower