Place name on all pages, staple and turn end at end of period. FIFO AND LIFO INVENTORY PROBLEM - PERPETUAL SYSTEM Perpetua Invertory The taping na nentor at Durne Co. and data or purchases and sales for a three-month period ending Jure 30 are as followe Number Date Transaction of Units Per Unit Total Apr. 3 Inventory 25 31.200 $30.000 8 Purchase 75 4.240 93.000 11 Sa'e 43 2.000 80.000 30 Sale 20 2.000 60.000 Nav 8 Purchase 60 $260 75.600 10 Sale 50 2,000 100.000 19 Sare 20 2.000 40.000 29 Purchase 83 260 100,800 June 5 Sae 40 2,250 90.000 26 Sate 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 3 using the FIFO method and then the LIFO method. (6 points each) 2. Determine the ending inventory. (1 point each) FIFO LIFO 3. Determine the cost of goods sold. (1 point each) FIFO LIFO 4. Determine the total sales for the period. (1 point each) FIFO _ LIFO 5. What is the gross profit for the period? (1 point each) FIFO LIFO