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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 of Units

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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 of Units Date Transaction Total Per Unit Apr. 3 42 $ 300 $ 12,600 Inventory 8 Purchase 84 360 30,240 11 Sale 56 1,000 56,000 30 Sale 35 1,000 35,000 May 8 Purchase 70 400 28,000 10 Sale 42 1,000 42,000 19 Sale 21 1,000 21,000 28 Purchase 70 440 30,800 June 5 Sale 42 1,050 44,100 16 Sale 56 1,050 58,800 21 Purchase 126 480 60,480 28 Sale 63 1,050 66,150 . Record the inventory, purchases, and cost of goods sold data in a perpetual inventory ecord similar to the one illustrated in Exhibit 4, using the last-in, first-out method. Und IFO, if units are in inventory at two different costs, enter the units with the HIGHER uni ost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the nventory Unit Cost column. Fol Purchases Date Quantity Unit Cost Total Cost Apr. 3 Apr. 8 $ $ Apr. 11 Apr. 30 Cost of Goods Sold Purchases Total Cost nit Cost Total Cost Unit Cost Quantity are IN 0 F H 8 N DC otten June 21 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. $

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