I need help with this I also would like an explantion on how to find the inventory and cost of merch sold I dont understand how to get those numbers.

FIFO Perpetual Inventory 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 of Units Date Transaction Per Unit Total Apr. 3 Inventory 54 $225 $12.150 3 Purchase 108 270 29,160 11 Sale 72 750 54,000 30 Sale 45 750 33.750 Mayo Purchase 90 300 27,000 10 Sale 54 750 40,500 19 Sale 27 1950 20,250 28 Purchase 90 330 29,700 June 5 Sale 54 790 42.660 16 Sale 72 790 56,500 23 Purchase 162 360 58,320 25 Sale 81 790 63,990 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 Unit Cost Total Cost Quantity 54 Apr 3 2257 12,150 100 2707 29,160 11 Apr. 30 May 8 I May 10 May 19 May 20 - UAE EDOR WNW June 5 une 16 June 21 June 28 June 30 Balances of merchandise sold for the period. Journalize the entries in the sales and cost of merchandise sold accounts. Assume that all 2. Determine the total sales and the total sales were on account. Yecord sale Record cost 3. Determine the gross profit from sales for 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