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 $ 450 $ 29,700 8 Purchase 132 540 71,280 11 Sale 88 1,500 132,000 30 Sale 55 1,500 82,500 May 8 Purchase 110 600 66,000 10 Sale 66 1,500 99,000 19 Sale 33 1,500 49,500 28 Purchase 110 660 72,600 103,950 June 5 Sale 66 1,575 16 Sale 88 1,575 138,600 21 Purchase 198 720 142,560 28 Sale 99 1,575 155,925 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, 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 the Inventory Unit Cost column. units are in Inventory at two Schedule Dunne Co. Cost of Goods Sold LIFO Method For the Three Months Ended June 30 Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Apr. 3 $ $ Apr. 8 Apr. 11 Apr. 30 May 8 May 10 May 19 = May 28 1 June 5 June 16 - 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 $ ta Total cost of goods sold $ Gross profit from sales $ 3. Determine the ending inventory cost on June 30. $