The beginning inventory of merchandise at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows:

Date		Transaction	Number of Units		Per Unit		Total
Apr. 3		Inventory	42		$600		$25,200
8		Purchase	84		720		60,480
11		Sale	56		2,000		112,000
30		Sale	35		2,000		70,000
May 8		Purchase	70		800		56,000
10		Sale	42		2,000		84,000
19		Sale	21		2,000		42,000
28		Purchase	70		880		61,600
June 5		Sale	42		2,100		88,200
16		Sale	56		2,100		117,600
21		Purchase	126		960		120,960
28		Sale	63		2,100		132,300

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 Merchandise Sold Unit Cost column and in the Inventory Unit Cost column.