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 66 $ 225 $14,850 8 Purchase 132 270 35,640 11 Sale 88 750 66,000 30 Sale 55 750 41,250 May 8 Purchase 110 300 33,000 10 Sale 66 750 49,500 19 Sale 33 750 24,750 28 Purchase 110 330 36,300 June 5 Sale 66 790 52,140 16 Sale 88 790 69,520 21 Purchase 198 360 71,280 28 Sale 99 790 78,210 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