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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: Number Date Transaction

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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: Number Date Transaction of Units Per Unit Total Apr. 3 Inventory 84 $450 $37,800 Purchase 168 540 90,720 11 Sale 113 1,500 169,500 Sale 30 71 1,500 106,500 May 8 Purchase 140 600 84,000 Sale 10 84 1,500 126,000 19 Sale 42 1,500 63,000 28 Purchase 140 660 92,400 June 5 Sale 84 1,575 132,300 16 Sale 112 1,575 176,400 Purchase 21 252 720 181,440 Sale 28 126 1,575 198,450 Required: 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 Cost Total Cost or. 3 or. 8 r 11 pr. 30 ay 8 EE ay 10 ay 19 May 28 June 5 June 16 June 21 June 28 Balances June 30 June 21 June 28 Balances June 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 3. Determine the ending inventory cost as of June 30

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