LIFO Perpetual Inventory

Record the inventory, purchase, and cost of merchandise sold data, using the last in, first-out method

The beginning inventory of merchandise at Dunne Co. and data on purchases and sales for a three-month period ending June 30, 2014, are as follows: Per Unit Date Transaction Apr. 3 Inventory 8 Purchase 11 Sale 30 Sale May 8 Purchase 10 Sale 19 Sale 28 Purchase June 5 Sale 16 Sale 21 Purchase 28 Sale Number of Units 25 75 40 30 60 50 20 80 40 25 35 44 $1,200 1,240 2,000 2,000 1,260 2,000 2,000 1,260 2,250 2,250 1,264 2,250 Total $ 30,000 93,000 80,000 60,000 75,600 100,000 40,000 100,800 90,000 56,250 44,240 99,000