Sheffield Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Date June 1 Beginning inventory 12 15 16 23 27 Explanation Purchases Sale Purchases Purchases Sales Units 1,410 2,320 (2,540 ) 4,700 1,380 (5,790 ) Unit Cost/Price $5 6 12 7 8 15 Total Cost $7,050 13,920 32,900 11,040

Sheffield Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Date Explanation Units Unit Cost/Price Total Cost June 1 Beginning inventory 1,410 $5 $7,050 12 Purchases 2,320 6 13,920 15 Sale (2,540 ) 12 16 Purchases 4,700 7 32,900 23 Purchases 1,380 8 11,040 27 Sales (5,790 ) 15