LIFO Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 54 $300 $16,200 8 Purchase 108 360 38,880 11 Sale 72 1,000 72,000 30 Sale 45 1,000 45,000 May 8 Purchase 90 400 36,000 10 Sale 54 1,000 54,000 19 Sale 27 1,000 27,000 28 Purchase 90 440 39,600 June 5 Sale 54 1,050 16 Sale 72 1050 480 56,700 75,600 77,760 21 Purchase 162 28 Sale 81 1,050 85,050 Required: 1. Record the Inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 4, using the last-in, first-ou 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 Merchandise Sald Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Dunne Co. Schedule of Cost of Merchandise Sold LIFO Method For the three months ended June 30 Cost of Merchandise Sold Quantity Unit Cost Total Cost Purchases Date Quantity Unit Cost Total Cost Inventory Unit Cost Quantity |Apr. 3 Apr 8 Apr. 11 |Apr 30 May 8 May 10 May 19 Check My Work Previous Next Show Me How Calculator une 5 une 16 June 21 une 20 une 30 Balance 2. Determine the total we, the total cost of merchandise sold, and the press room sales for the period. Total cost of merchandise sold Gross profit from sales 3. Determine the enginventory cost on June 30 Previous MacBook Al - $ % 5 8 7 1 0 6 9 E R T Y U o . f G H L C V B N M alt command option