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LIFO Perpetual Inventory The beginning inventory at Dunne Co and data on purchases and sales...

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LIFO Perpetual Inventory The beginning inventory at Dunne Co and data on purchases and sales for a three-month period are as follows: Number Date Transaction of Units Per Unit Total Apr. 3 Inventory 36 $450 $16,200 8 Purchase 72 540 38,880 11 Sale 48 1,500 30 Sale 30 1,500 600 May 8 Purchase 60 72,000 45,000 36,000 54,000 27,000 10 Sale 36 1,500 1,500 19 Sale 18 28 Purchase 60 660 39,600 56,700 June 5 Sale 36 1,575 1,575 16 Sale 48 21 Purchase 108 720 75,600 77,760 85,050 28 Sale 54 1,575 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, 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 Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column

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