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 Per Unit Total Apr. 3 Inventory 60 $ 525 $ 31,500 8 Purchase 120 630 75,600 140,000 11 Sale 80 1,750 1,750 30 Sale 50 87,500 Purchase 100 700 May 8 10 Sale 60 1,750 70,000 105,000 52,500 77,000 19 Sale 30 1,750 28 Purchase 100 770 June 5 Sale 60 1,840 16 Sale 1,840 110,400 147,200 151,200 21 Purchase 180 840 28 Sale 90 1,840 165,600 Th PUEST Sale TT, 165.600 28 90 1,840 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 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 For the Three Months Ended June 30 Purchases Cost of Goods Sold Inventory Unit Cost Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Total $ Apr - (Apr. 11 |Apr 30 - May Mar so May 19 For the Three Months Ended June 30 Purchases Cost of Goods Sold Inventory Unit Cost Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Total $ Apr - (Apr. 11 |Apr 30 - May Mar so May 19 May 28 - Tunes June 16 June 21 June 30 Balances #2.ngagenow.com/kangnment/akensignment Main.dolinvoker=&takeAssaynmentSessionLocatorinprogress false the total the total cost of goods sold, and the gross profit from sales for the period. 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 Total cost of goods sold Gross profit from sales 3. Determine the ending inventory cost on June 30. $ $