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 Apr. 3 Inventory Number of Units Per Unit Total 66 $525 $34,650 8 Purchase 132 630 83,160 11 Sale 88 1,750 154,000 30 Sale 55 1,750 96,250 May 8 Purchase 110 700 77,000 10 Sale 66 1,750 115,500, 19 Sale 33 1,750 57,750 28 Purchase 110 770 84,700 June 5 Sale 66 1,840 121,440 16 Sale 88 1,840 161,920 21 Purchase 198 840 166,320 28 Sale 99 1,840 182,160 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 LOWE Purchases Purchases Purchases Cost of Goods Sold Cost of Goods Sold Cost of Goods Sold Date: Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Apr. 3 Apr. 8 Apr. 11 Apr. 301 May 8 May 10 May 19 May 281 June 5 | | || 1 01 01-1 Q 0 0 0 Inventory Inventory Inventory Quantity Unit Cost Total Cost June 16 June 21 June 28 0000 0.000 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 3. Determine the ending inventory cost on June 30.