LIFO Perpetual Inventory The beginning inventory at Dunne Coand data on purchases and sales for a three month period are as follows: Number Date Transaction of Units Per Unit Total Apr 3 Inventory 90 $375 $33,750 8Purchase 180 450 81,000 11 Sale 121 1,250 151,250 30 Sale 76 1,250 95,000 May 8 Purchase 150 500 75.000 10 Sale 90 1,250 112,500 19 Sale 45 2.250 56,250 28 Purchase 150 550 82.500 June 5 Sale 90 1,315 118,350 16 Sale 120 1.315 157,800 21 Purchase 600 162,000 28 Sale 135 1,315 177.525 270 Required: 1. Record the inventory purchases, and cost of goods sold data in a perpetual inventory record similar to the one ilustrated in Exhibit), using the last in first-out method. Under LFO In inventory at two different costs, enter the units with the HIGHER unit cout first in the cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost color 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 Unit Cost Total Ape Check My Workmore Check My Worcestemning Previo Required: 1. Record the wentary purchased food perpetuo records to the need in that the last first out method. Under uro, units are in inventory tweeterent cats, its with the HIGHER test the count Chand LOWER to the Inventory Cow column Dunne Co. Schedule of cost of Goods Solid LIFO Method For the Three Months Ende June 30 Purchases Cost of Goode Sot Inventory Date Quantity Unit Cost Total cost Unit Cost Total Cost Quantity Unit Cost Total Cost AR AC Apr 12 10 My 00 LVL 10 Py 10 My We Pret 2 177525 Required 1. Record the inventory purchases, mit einst of your old na apertory record in the wineranten har ett nated, under consentory at we are unts with the HIGHER unit intrest of Good Soluntatum fit in the entry into com Dunne ta Schedule of Cost of the Sold LIPO Method For the Three Menthe Ended na 30 Purchase Cet of Good Gold Inventory Quantity Un Cost Total Cost Quantity Cost Total Cost Quant Unca Total AL Ap 11 Ape Her - May 10 10 Od were Mr Women book Show Me How Print them HWD Nav May 10 10 10 00 May 1 May 28 I - 1 1 Punes 1 - une 16 June 21 1 1 une 20 lune 30 Balance 2. Determine the total sies, the total cost of goods sold, and the gross pro from sales for the period Total sales June June 16 June 21 une 20 June 30 2. Determine the total sale, the total cost of goods sold, and the gross prent 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
