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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 Date Transaction

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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 Date Transaction of Units Per Unit Total Apr. 3 Inventory 36 $150 $5,400 8 Purchase 72 180 12,960 11 Sale 48 500 24,000 30 Sale 30 500 15,000 May 8 Purchase 60 200 12,000 10 Sale 36 500 18,000 19 Sale 18 500 9,000 28 Purchase 220 13,200 June 5 Sale 525 18,900 Sale 48 525 25,200 21 Purchase 108 240 25,920 28 Sale 54 525 28,350 60 36 16 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one lustred Exit , using the last stout method. Under uro, if units inventory at the different costs, enter the units with the HIGHER nit cost ist in the cast of Goods Sold Unt Cost count and LOWER un contrat in the Inventory Unit Cost column Duinne Co. Schedule of Cost of Goods Sold LIFO Mathed 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 a Apca 1 Apt. 11 Apr 30 - May 1 May 10 10 II 10 May 19 May 28 - Book Show Me How Printer May 19 - - 1 May 28 I I I une 5 I = June 16 - I DIO June 21 - I - 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 Total cost of goods sold Gross profit from sales 3. Determine the ending inventory cost as of June 30

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