The beginning inventory of merchandise at Rhodes 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		$450		$18,900
8		Purchase	84		540		45,360
11		Sale	56		1,500		84,000
30		Sale	35		1,500		52,500
May 8		Purchase	70		600		42,000
10		Sale	42		1,500		63,000
19		Sale	21		1,500		31,500
28		Purchase	70		660		46,200
June 5		Sale	42		1,575		66,150
16		Sale	56		1,575		88,200
21		Purchase	126		720		90,720
28		Sale	63		1,575		99,225

Required:

1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated 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 Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.

Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period.

Total sales	$fill in the blank 114
Total cost of merchandise sold	fill in the blank 115
Gross profit	$fill in the blank 116

3. Determine the ending inventory cost on June 30.