The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Date Transaction Apr. 3 Inventory 8 Purchase 11 Sale 30 Sale May 8 Purchase 10 Sale 19 Sale 28 Purchase June 5 Sale 16 Sale 21 Purchase 28 Sale Number of Units 60 120 80 50 100 60 30 100 60 80 180 90 Per Unit $375 450 1,250 1,250 500 1,250 1,250 550 1,315 1,315 600 1,315 Total $22,500 54,000 100,000 62,500 50,000 75,000 37,500 55,000 78,900 105,200 108,000 118,350 Required: 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, using the first-in, first-out method. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column.

The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, using the first-in, first-out method. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit cost column and in the Inventory Unit cost column