LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Number Date Transaction of Units Per Unit Total Apr. 3 Inventory 42 $ 525 $ 22,050 8 Purchase 84 630 52,920 11 Sale 56 1,750 98,000 30 Sale 35 1,750 61,250 May 8 Purchase 70 700 49,000 10 Sale 42 1,750 73,500 19 Sale 21 1,750 36,750 28 Purchase 70 770 53,900 June 5 Sale 42 1,840 77,280 16 Sale 56 1,840 103,040 21 Purchase 126 840 105,840 28 Sale 63 1,840 115,920 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual Inventory record similar to the one illustrated in Exhibit 4, using the last in, first-out 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 LOW unit cost first in the Inventory Unit Cost column Dunne Co. Dunne Co. Schedule of Cost of Goods Sold LIPO Method For the Three Menthe Ended June 10 Cost of Goods Sold Quantity Unit Cost Purchases Inventory Date Quantity Unit Cost Total Cost Total Cost Quantity Unit Cost Total Cost Apr 5 Apr (non il Apr. 30 Hayo I 1 May 10 II - May 19 May 19 May 28 - - - 21 2 une 30 Balance 2. Determine the to, the total cost on the stres formes June 30 Biances 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period Total sales Total cost of goods sold Gross proferam se 3. Determine the ending inventory cost on June 30 Check My Won POS