Question 3 Not yet answered Marked out of 8.00 Inventory records - 15 minutes Persimmon Inc. uses a perpetual inventory system and has the following transactions for June: Date Description Units Cost/price June 1 Beginning inventory 50 $16.00 June 6 Purchase 40 15.50 Flag question June 10 Purchase 20 15.00 June 12 Sale 80 35.00 June 21 Purchase 50 14.00 June 29 Sale 60 35.00 Required: a) Prepare inventory records using the FIFO method b) Calculate Sales, Cost of Goods Sold and Gross Profit