UFO Perpetual Inventory 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 36 $400 $21,600 Purchase 22 720 $1,840 11 Saw 48 2,000 96,000 . 30 Sale 30 2,000 60,000 May & Purchase 60 800 48,000 10 Sale 2,000 72,000 15 Sale 18 2,000 36,000 28 Purchase 60 880 $2,400 June 5 Sale 36 2.100 75,400 16 Sale AB 3,100 100,000 21 Purchase 108 M 29 Sale 34 2,100 103,680 113,400 1. Record the inventory purchases, and cast of merchandise said data in a perpetual inventory record similar to the are strated in Ext, using the satin, first-out mehed under LFO, e units are inventory at twent enter the units with the OGHER un cost first in the Cast of Marchandise Sint Unit Cost column and LOWER unit at first in the Inventry Un Purchases Dunne Co. Schedule of Cost of Merchandise Sold LIFO Mathed For the three mantended June 30 Cast of Merchandise Sold Inventory Al work saved Previous Sub Agent for Grad Purchases Date Quantity Unit Cost Total Cost Quantity Apr. 3 Apr 8 Apr 11 Apic 301 May B May 10 May 191 May 20 Cost of Merchandise Sold Unit Cost Inventory Total Cost Quantity Unit Cost Total Cost May 19 May 28 June 5 June 16 June 21 June 201 June 30 Balances 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period Total sales Total cost of merchandise sold Gress profit from sales 3. Determine the ending inventory cost on June 30 LIFO Perpetual Inventory 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 Per Unit Total of Units Apr. 3 Inventory 36 $600 $21,600 8 Purchase 72 720 51,840 11 Sale 48 2,000 96,000 4 30 Sale 30 2,000 60,000 May 8 Purchase 60 800 48,000 10 Sale 36 2,000 72,000 < 19 Sale 18 2,000 36,000 28 Purchase 60 880 52,800 June 5 Sale 36 2,100 75,600 16 Sale 48 2,100 100,800 21 Purchase 108 960 103,680 28 Sale 54 2,100 113,400 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 la 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 unil column. Dunne Co. Schedule of Cost of Merchandise Sold LIFO Method For the three months ended June 30 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. Dunne Co. Purchases Dunne Co. Schedule of Cost of Merchandise Sold LIFO Method For the three months ended June 30 Cost of Merchandise Sold Date Quantity Unit Cost Total Cost Quantity Apr 3 Apr. Apr 11 Apr 301 May May 10 May 19 May 28 J16 Asig: 8.0% Unit Cost Inventory Total Cost Quantity Unit Cost Total Cost Apr. 30 May 0 May 10 May 19 May 28 June 5 June 16 June 21 June 28 June 30 Balances sales for the period 3. Determine the tatal sales, the total cost of merchandise said, and the gross profit from sales Totall Total cost of merchandise sold Gross profit from sales 3. Determine the ending inventory cost on June 30