Thai mos to murthensise said taruss pashit The beginning imentory of merchandise at rhodes 60 , and data on purchases and sales for a three: month period eniding June 30 are as follows: Requirest: 1. Record the inwertory, purchases, and cost of merchandse sold data in a perpetual inventory record similar to the one illustrated in Extibit 3, using the first-in, first out metho inventory at two dtterent cosss, enter the units with the Lower. unit cost first in the Cost of Merchandise Sold thit cost column and in the Inventory unit Cost columin. 3. fieminine the poss cos2t ficm tales for the penod. 2. Determine the total sales and the total cost of merchandise sold for the period. Journalize the entries in the sales and cost of merchandise sold accounts; Assume thin bax does not tequre an entry, feave it blanki 3. Detemine the gross profic from sales for the period. 4. Determene the ending inventiory cost as of 3une 30 . 5. Based upon the preceding data, would you expect the inventory using the last-in. first-eut method to be higher or lower? Thai mos to murthensise said taruss pashit The beginning imentory of merchandise at rhodes 60 , and data on purchases and sales for a three: month period eniding June 30 are as follows: Requirest: 1. Record the inwertory, purchases, and cost of merchandse sold data in a perpetual inventory record similar to the one illustrated in Extibit 3, using the first-in, first out metho inventory at two dtterent cosss, enter the units with the Lower. unit cost first in the Cost of Merchandise Sold thit cost column and in the Inventory unit Cost columin. 3. fieminine the poss cos2t ficm tales for the penod. 2. Determine the total sales and the total cost of merchandise sold for the period. Journalize the entries in the sales and cost of merchandise sold accounts; Assume thin bax does not tequre an entry, feave it blanki 3. Detemine the gross profic from sales for the period. 4. Determene the ending inventiory cost as of 3une 30 . 5. Based upon the preceding data, would you expect the inventory using the last-in. first-eut method to be higher or lower