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LIFO Perpetual Inventory The beginning inventory at Dunne Co . and data on purchases and sales for a three - month period are as follows:
LIFO Perpetual Inventory
The beginning inventory at Dunne Co and data on purchases and sales for a threemonth period are as follows: Record thr inventory, purchases, and cost of goods data in a perpetual inevntory record similar to the one illustrated in Exhbiti using the lastin firstout method, id units are in inventory at two differect costs, enter the units with HIGHER unit cost first in the cost of goods sold unit cost column and LOWER unit cost dirst in the inventory unite cost column.
Determine the total sales, the total cost of goods, and the gross profit from sales for the period.
Determine the ending inventory cost of June
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