Periodic Inventory by Three Methods The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows: Number of Units Date Transaction Per Unit Total Apr. 3 Inventory 25 $1,200 $30,000 8 Purchase 75 1,240 93,000 80,000 11 Sale 40 2,000 30 Sale 30 2,000 60,000 May 8 Purchase 60 1,260 75,600 10 Sale 50 2,000 100,000 40,000 19 Sale 20 2,000 28 Purchase 80 1,260 100,800 June 5 Sale 40 2,250 90,000 16 Sale 25 2,250 56,250 44,240 21 Purchase 35 1,264 28 Sale 44 2,250 99,000 Required: 1. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory system. Round the weighted average unit cost to the nearest cent. Inventory, June 30 01 Cost of goods sold 2. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system. 16 Sale 25 2,250 1,264 56,250 44,240 21 Purchase 35 28 Sale 44 2,250 99,000 Required: 1. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory system. Round the weighted average unit cost to the nearest cent. Inventory, June 30 Cost of goods sold s 2. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system. Inventory, June 30 Cost of goods sold u ull 3. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the weighted average cost method and the periodic inventory system. Note: Round the weighted average unit cost to the nearest dollar and final answers to the nearest dollar. Inventory, June 30 Cost of goods sold 4. Compare the gross profit and June 30 inventories using the following column headings. Enter all amounts as positive numbers. FIFO LIFO Weighted Average Sales $ Cost of goods sold Gross profit $ Inventory, June 30 $ $