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LIFO perpetual inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one tiliustrated 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 cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. unit cost Hirst in the inventory thit cost column. Dunne Co. Schedule of Cost of Goods Sold LiFO Method For the Three Months Ended June 30 May 19 3. Determine the ending ifventory cost on June 30. For the Three Months Ended June 30 50 66,000