LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Number of Units Date Transaction Apr. 3 Inventory 8 Purchase 84 168 Per Unit Total $ 150 $ 12,600 180 30,240 500 56,500 500 35,500 11 Sale 113 30 Sale 71 May 8 Purchase 140 200 28,000 10 Sale 84 500 42,000 19 Sale 42 500 21,000 28 Purchase 140 220 30,800 June 5 Sale 84 525 44,100 16 Sale 112 525 58,800 21 Purchase 252 240 60,480 28 Sale 126 525 66,150 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 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 Cost Total Cost Apr. 3 84 $ 150 $ 12,600 84 150 12,600 / Apr. 8 168 $ 180 $ 30,240 168 180 30,240 Apr. 11 113 $ 300 X $ 56,500 x 56,500 71 x 360 x Apr. 30 May 8 140 200 28,000 um May 10 May 19 May 28 140 220 30,800 June 5 June 16 June 21 252 240 60,480 June 28 June 30 Balances $ 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 on June 30. $