LIFO perpetual inventory The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 25 $1,200 $30,000 8 Purchase 75 1,240 93,000 11 Sale 40 2,000 80,000 30 Sale 30 2,000 60,000 May Purchase 60 1,260 75,600 10 Sale 50 2,000 100,000 19 Sale 20 2,000 40,000 28 Purchase 80 1,260 100,000 June 5 Sale 40 2,250 90,000 16 Sale 25 2,250 56,250 21 Purchase 35 1,264 44,240 28 Sale 44 2,250 99,000 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-sut 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 Soid Unit Cost column and LOWER unit cest first in the Inventory Unit Cost column Purchases Date Quantity Apr. 3 Apr. 8 Purchases Unit Cost Purchases Total Cost Dunne Co. Schedule of Cost of Goods Sold LIFO Method For the Three Months Ended June 30 Cost of Goods Sold Quantity Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost Apr. 11 Apr. 30 May B May 10 May 19 May 28 June 5 June 16 June 21 June 28 0000000000000 0000000000000000 0000000000000 00000 00000 000 0 0.000 0 00 00 00 000 000 0000000 00 | | 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 3. Determine the ending inventory cost on June 30.