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	48	$375	$18,000
8	Purchase	96	450	43,200
11	Sale	64	1250	80,000
30	Sale	40	1250	50,000
May 8	Purchase	80	500	40,000
10	Sale	48	1250	60,000
19	Sale	24	1250	30,000
28	Purchase	80	550	44,000
Jun 5	sale	48	1315	63,120
16	sale	64	1315	84,160
21	Purchase	144	600	86,400
28	Sale	72	1315	94,680

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-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 Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.