PR 6-18 - Test 2 FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Number of Units Date Transaction Inventory Per Unit $225 36 270 $1,100 19.440 36.000 72 8 Purchase 48 750 11 Sale 30 750 Sale 60 300 May B Purchase 96 750 22,500 18,000 27,000 13,500 19,800 10 Sale 18 750 19 Sale 60 330 28 Purchase 790 June 5 36 Sale 28,440 37,920 790 16 Sale 48 108 360 38 880 21 Purchase 28 Sale 54 790 42660 Required: 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, using the first-in, first-out method. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column Denne Co