Question: Ob).2, 3 The beginning inventory at Dunne CO. and data on purchases and sales for a three-month period ending June 30 are as follows: Instructions

Ob).2, 3 The beginning inventory at Dunne CO. and data on purchases and sales for a three-month period ending June 30 are as follows: Instructions 1. Fiecolvd the thventory purchases, and cost of goods sold data in a perpetual inventory record similar to the one flustrated in Exhbit 3 using the first-in, first-out method. 2. Determine the total sales and the total cost of goods sold for the period. Journalize the entries in the sales and cost of goods sold accounts. Assume that all sales vere on account. 3. Determine the aross profit from alles for the period. 4. Determine the ending inventory cost on fune 30. 5. Mseard unon the proceding data whould you emperthe ending inventory using the last-in, first-out mathort in ha hiahnr anilnwer

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