LIFO Perpetual Inventory The beginning inventory of merchandise at Rhodes Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Number Date Transaction Per Unit Total of Units Apr. 31 Inventory 60 $300 $18,000 8 Purchase 120 360 43,200 11 Sale 80 1,000 80,000 30 Sale 50 1,000 50,000 May 8 Purchase 100 400 40,000 10 Sale to 1,000 60,000 19 Sale 30 1,000 30,000 28 Purchase 100 440 44,000 June 5 Sale 60 1,050 63,000 16 Sale 80 1,050 84,000 21 Purchase 180 480 86,400 28 Sale 906 90 1,050 94,500