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LIF Perpetual Inventory The beginning inventory of merchandise at Dunne Co. and data on purchases and sales for a three month period ending on 30 are as follows: Number Date Transaction Per Unit Total of Units Apr inwentary 3450 $24,300 54 IDB Purchase 540 58,320 11 Sale 22 1.500 30 Sale 45 1.500 108,000 67,500 S4,000 May Purchase 90 600 10 Sale 1,500 $1,000 40,500 19 27 1,500 90 660 28 Purchase June Sale 59,400 85.050 54 1.575 15 Sale 72 3,575 720 21Purchase 162 113,400 136,640 127,575 28 Sale 11 1.575 Required: 1. Record the inventory, ourchases, and cost of merchandae sold data in perpetual inventory coord smlar to the one Illustrated in busing the Costin, first-out method. Under LFO, funts are in vendor at two afferent costs, enter the units with the HIGHER unit cost first in the cost of Merchandise Solo Unitos columnend lower unit cost first in the inventory Unit Cost column Purchases Cost of Merchandise Som Inventory Date Quantity Unit Cout Total cost Quantity Unit Cout Total Cont QUAM Un Cost Total Cost AD 108 540 58,320 450 24.300 for 3 45 x 18 X May | 90 600 54.000 May 10 10 100 May 19 27 Hay 1 660 39,400 Sunes 1 - - May 20 90 660 59,400 unes Sune 16 June 21 162 720 116,640 une 28 51 Tune 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 Gross profit 3. Determine the ending inventory cost on June 30

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