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: Number Date Transaction of Units Per Unit Total Apr 3 Inventory 48 $300 $14,400 8 Purchase 96 360 34,560 11 Sale 64 1,000 64,000 30 Sale 40 1,000 40,000 May 8 Purchase 80 400 32,000 10 Sale 48 1,000 48,000 19