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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: Date Transaction Number of Units Per Unit Total Apr. Inventory $ $ Purchase Sale Sale May Purchase Sale Sale Purchase June Sale Sale Purchase Sale Required: Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit using the lastin firstout method. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Dunne Co Schedule of Cost of Goods Sold LIFO Method For the Three Months Ended June Date Purchases Quantity Purchases Unit Cost Purchases Total Cost Cost of Goods Sold Quantity Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost Apr. fill in the blank fill in the blank fill in the blank Apr. fill in the blank $fill in the blank $fill in the blank fill in the blank fill in the blank fill in the blank Apr. fill in the blank fill in the blank fill in the blank Apr. fill in the blank $fill in the blank $fill in the blank fill in the blank fill in the blank fill in the blank Apr. fill in the blank fill in the blank fill in the blank Apr. fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank Apr. fill in the blank fill in the blank fill in the blank May fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank May fill in the blank fill in the blank fill in the blank May fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank May fill in the blank fill in the blank fill in the blank May fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank May fill in the blank fill in the blank fill in the blank May fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank May fill in the blank fill in the blank fill in the blank May fill in the blank fill in the blank fill in the blank June fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank June fill in the blank fill in the blank fill in the blank June fill in the blank fill in the blank fill in the blank June fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank June fill in the blank fill in the blank fill in the blank June fill in the blank fill in the blank fill in the blank June fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank June fill in the blank fill in the blank fill in the blank June fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank June fill in the blank fill in the blank fill in the blank June Balances $fill in the blank $fill in the blank Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. Line Item Description Amount Total sales $fill in the blank Total cost of goods sold $fill in the blank Gross profit $fill in the blank Determine the ending inventory cost on June fill in the blank of $
LIFO perpetual inventory
The beginning inventory at Dunne Co and data on purchases and sales for a threemonth period are as follows:
Date Transaction Number
of Units Per Unit Total
Apr. Inventory $ $
Purchase
Sale
Sale
May Purchase
Sale
Sale
Purchase
June Sale
Sale
Purchase
Sale
Required:
Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit using the lastin firstout method. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.
Dunne Co
Schedule of Cost of Goods Sold
LIFO Method
For the Three Months Ended June
Date Purchases
Quantity Purchases
Unit Cost Purchases
Total Cost Cost of Goods Sold
Quantity Cost of Goods Sold
Unit Cost Cost of Goods Sold
Total Cost Inventory
Quantity Inventory
Unit Cost Inventory
Total Cost
Apr. fill in the blank fill in the blank fill in the blank
Apr. fill in the blank $fill in the blank $fill in the blank fill in the blank fill in the blank fill in the blank
Apr. fill in the blank fill in the blank fill in the blank
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Apr. fill in the blank fill in the blank fill in the blank
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May fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank
May fill in the blank fill in the blank fill in the blank
May fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank
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May fill in the blank fill in the blank fill in the blank
May fill in the blank fill in the blank fill in the blank
June fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank
June fill in the blank fill in the blank fill in the blank
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June fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank
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June fill in the blank fill in the blank fill in the blank
June fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank
June fill in the blank fill in the blank fill in the blank
June Balances $fill in the blank $fill in the blank
Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period.
Line Item Description Amount
Total sales $fill in the blank
Total cost of goods sold $fill in the blank
Gross profit $fill in the blank
Determine the ending inventory cost on June
fill in the blank of $
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