LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 72 $600 $43,200 8 Purchase 144 720 103,680 11 Sale 96 2,000 192,000 30 Sale 60 2,000 120,000 May 8 Purchase 120 800 96,000 10 Sale 72 2,000 144,000 19 Sale 36 2,000 72,000 28 Purchase 120 880 105,600 June 5 Sale 72 2,100 151,200 16 Sale 96 2,100 201,600 21 Purchase 216 960 207,360 28 Sale 108 2,100 226,800 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, 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 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 30 Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Total Cost Cost Apr. 3 $ $ Apr. 8 S $ $ $ g June Balances 30 $ $ 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 profit from sales $ $ $