Prince LIFO Perpetual Inventory 1,50 The beginning inventory at Dunne Coand data on purchases and sex for a three-month period are as follows Number Date Transaction of Units Per Unit Total Apr 3 Inventory 54 3525 $ 28,350 8 Purchase 108 6.10 68,040 11 Sale 72 126,000 30 Sale 45 1.750 78,750 May & Purchase 90 700 63,000 10 Sale 54 1.750 94,500 19 Sale 27 1,750 47,250 28 Purchase 90 770 69,300 June 5 Sale 54 1.840 99,360 16 Sale 72 1,840 132,480 21 Purchase 840 136,080 28 Sale 81 1,840 149,040 162 Required: 1. Record the inventory, purchases, and cost of goods sold data in perpetual inventory record similar to the one blustrated 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 cont first in the cost of Goods Sold Unit Cost column and LOWER unit cost first in the inventory Unit Cost column Dunne Co. Schedule of Cost of Goods Sold LITO Method Printem Schedule of Cost of Goods Sold LIFO Method For the Three Months Ended June 30 Purchases Cost of Goods Sold Date Quantity Unit Cost Total Cost Total Cost Quantity Unit Cost Quantity Apr. 3 |Apr 8 - Aon 30 May - I May 10 May 19 May 28 I CC 2301 102 Cengage wy dule of Cost of Goods Sold LIFO Method Three Months Ended June 30 Cost of Goods Sold Inventory uantity Total Cost Unit Cost Quantity Unit Cost Total Cost 11 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. Total sales $ $ Total cost of goods sold Gross profit from sales 3. Determine the ending inventory cost on June 30. $ $