Group B E6-31B. (Learning Objectives 1, 2: Show how to account for inventory transactions; apply the FIFO cost method) Accounting records for Dundas Corporation yield the following data for the year ended June 30, 2016: 60,000 90,000 27,000 Sales of inventory-79% on account; 21% for cash (cost $40,000) Requirements 1. Journalize Dundas' inventory transactions for the year under the perpetual system. 2. Report ending inventory, sales, cost of goods sold, and gross profit on the appropriate financial statement