LIFO Parptal Inventory The beginning inventory of merchandise at Rhodes and data on purchases and sales for a thermonth period ending In 30 are as follows: Number Date Transaction Per Unit Total 5200 55 1,000 1,000 35 Apl. 3 Inventory 8Purchase 11 30 Sale May 8 Purdas 10 Sale 19 Sale 28 Pardas Jure Sale 16 Sale 21 Purchase 512,600 20,240 56,000 35,000 28,000 42,000 21,000 30,800 400 1,000 42 1,000 21 70 44,100 1,050 1,050 55 126 58,800 60,480 66,150 28 63 1,050 1. Record the very purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one strated in Exhibit 4, using the last-in, first-out method. Under LIFO, if units are in inventory at two different costs, and the unit with the HIGHER il cost list in the cost of Marchandise Sold Unit Costcoin and LOWER units first in the Inventory Limit Cost com. Rhodes Co. Perpetual Inventory Account LIFO Method For the three months ended June 30 Cost of Merchandise Sold Quantity Unit Cost Total Cost Purchase Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost a 00 1 May B May 10 101 May 10 May 28 a - Lunes - - Tui 1 0 une 30 2. Delmine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. Total cost of merchandise sold Gross profit 3. Deline the ending inventory colonne 30