I need help understanding the blanks please.

The beginning inventory of merchandise at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Number Date Transaction of Units Per Unit Total Apr. 3 Inventory 72 $375 $27,000 8 Purchase 144 450 64,800 11 Sale 96 1,250 120,000 30 Sale 60 1,250 75,000 May 8 Purchase 120 500 60,000 10 Sale 72 1,250 90,000 19 Sale 36 1,250 45,000 28 Purchase 120 550 66,000 June 5 Sale 72 1,315 94,680 16 Sale 96 1,315 126,240 21 Purchase 216 600 129,600 28 Sale 108 1,315 142,020 Required: 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, using the first-in, first-out method. Under FIFO, if units are in inventory at two 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 column.Dunne Co. Schedule of Cost of Merchandise Sold FIFO Method For the three-months ended June 30 Purchases Cost of Merchandise Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Apr. 3 72 V 375 $ 27,000 72 V 375 27,000 Apr. 8 144 V $ 450 V $ 64,800 V 144 V 450 V 64,800 72 V 375 $ 27,000 V Apr. 11 X X 450 Apr. 30 60 V X 60 V May 8 120 V 500 V 60,000 V 120 V 500 V 60,000 May 10 May 19 36 V XMay 28 120 550 66,000 120 V 550 V 66,000 June 5 72 V June 16 96 June 21 216 V 600 V 129,600 V 216 V 600 V 129,600 June 28 June 30 Balances 2. Determine the total sales and the total cost of merchandise sold for the period. Journalize the entries in the sales and cost of merchandise sold accounts. Assume that all sales were on account. Record sale Accounts Receivable v Sales v Record cost Cost of Merchandise Sold V Merchandise Inventory v 3. Determine the gross profit from sales for the period.Determine the gross profit from sales To the period. 4. Determine the ending inventory cost as of June 30. 5. Based upon the preceding data, would you expect the inventory using the last-in, first-out method to be higher or lower? Lower