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 8 Purchase 75 1,240 $30,000 93,000 80,000 60,000 11 Sale 40 30 Sale 30 2,000 2,000 1,260 May 8 Purchase 60 10 Sale 50 2,000 19 Sale 20 2,000 28 Purchase 80 1,260 . June 5 75,600 100,000 40,000 100,800 90,000 56,250 44,240 99,000 Sale 40 2,250 16 Sale 25 2,250 1,264 21 Purchase 35 28 Sale 44 2,250 Required: 1. Determine the inventory on June 30 and the cost of goods sold for the three month period, using the first in, fust-out method and the periodic inventory system Inventory, June 30 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, Inventory, June 30 Cost of goods sold 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. For those boxes in which you must enter subtracted or negative numbers use a minus sign FIFO LIFO Weighted Average Sales Cost of goods sold Gross profit Inventory, June 30