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 48 $ 225 8 Purchase 96 270 $ 10,800 25,920 48,000 30,000 11 Sale 64 750 30 Sale 40 750 May 8 Purchase 80 300 10 Sale 48 750 24,000 36,000 18,000 19 Sale 24 750 28 Purchase 80 330 26,400 June 5 Sale 48 790 37,920 16 Sale 64 790 50,560 21 Purchase 144 360 51,840 28 Sale 72 790 56,880 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 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 Dunne Co. Schedule of Cost of Goods Sold LIFO Method Show Me How Record the inventory, purchases, and cost of goods sold data in a perpetual invertory record similar to the one illustrated in Exhibit 4, using the last in, first-cut method under UFO, units are in inventory ferent 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 Cast colum. Dunne Co. Schedule of Cost of Goods Sold LIFO Method For the Three Months Ended June 10 Cost of Goods Sold Purchases Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Unit Cost Total Cout Quantity 48 Apr. 3 5 48 Apr. 96 2707 25,920 96 48 Apr. 11 32 32 40 Apr. 30 40 80 300 24,000 & May 40 May 10 32 40 24 May 19 Previous Next > Check My Work Emainstre Save and Submit Assign for Grading All work saved gnment Score: 76.18% May 28 BO 330 26,400 40 June 1 12 B III 16 June 16 16 144 360 51,840 164 June 21 16 22 72 June 26 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 277,360 Total cost of goods sold Gross profit from sales 80 x 3. Determine the ending inventory cost on June 30. 31,860 x Check My Work All work saved Asegment Score: 76.18%