homework LIFO Perpetual Inventory Book Show Me How The beginning inventory of merchandise at Rhodes Co. and data on purchases and sales f Number Date Transaction Per Unit Total of Units Apr. 3 Inventory 60 $450 $27,000 Purchase 120 540 64,800 11 Sale 80 1,500 120,000 30 Sale 50 1,500 75,000 May B Purchase 100 600 60,000 es 10 Sale 60 1,500 90,000 19 Sale 30 1,500 45,000 28 Purchase 100 660 66,000 June 5 Sale 60 1,575 94,500 16 Sale BD 1,575 126,000 21 Purchase 100 720 129,600 28 Sale 90 1,575 141,750 three-peth period ending June 30 are as follows: Required: 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory recond similar to the one ilustrated in Exhibit 4, using the last-in, first-out method. Under LIFO, if units are inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Said Unit Cast column and LOWER unit cost first in the Inventory Unit Cost calunn Rhodes Co. Perpetual Inventory Account Previous Next CH 7-Homework eBook Purchases Show Me How For the three-months ended June 30 Cost of Merchandise Sold Date Quantity Unit Cost Total Cost Quantity Apr. 31 Apr 8 Apr. 11 Apr 30 May May 10 May 19 May 281 Unit Cost Inventory Total Cost Quantity Unit Cost Total Cost June 5 Previous Next June 5 June 16 June 21 June 28 June 30 Balances 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. Total sales Total cost of merchandise sold Gross profit 3. Determine the ending inventory cost on June 30.