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	66	$375	$24,750
8	Purchase	132	450	59,400
11	Sale	88	1,250	110,000
30	Sale	55	1,250	68,750
May 8	Purchase	110	500	55,000
10	Sale	66	1,250	82,500
19	Sale	33	1,250	41,250
28	Purchase	110	550	60,500
June 5	Sale	66	1,315	86,790
16	Sale	88	1,315	115,720
21	Purchase	198	600	118,800
28	Sale	99	1,315	130,185

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.

Date	Purchases Quantity	Purchases Unit Cost	Purchases Total Cost	Cost of Goods Sold Quantity	Cost of Goods Sold Unit Cost	Cost of Goods Sold Total Cost	Inventory Quantity	Inventory Unit Cost	Inventory Total Cost
Apr. 3
Apr. 8
Apr. 8
Apr. 11
Apr. 11
Apr. 30
Apr. 30
May 8
May 8
May 10
May 10
May 19
May 19
May 28
May 28
May 28
June 5
June 5
June 5
June 16
June 16
June 16
June 21
June 21
June 28
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.

Line Item Description	Amount
Total sales
Total cost of goods sold
Gross profit

3. Determine the ending inventory cost on June 30. fill in the blank 1 of 1$