The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows:

book Show Me How Calculator FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending lure 30 are as follows Date of Units Per Unit Total Apr. 3 B 11 Transaction Inventory Purchase Sale $225 270 750 Sale 30 May 10 300 Purchase Sale Sale 750 19 $9,450 22,680 42.000 26,250 21,000 31,500 15,750 23,100 33,180 44,240 45,360 49,770 28 Purchase 330 790 790 June 5 16 21 28 Requiredi Sale Sale Purchase Sale ont 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one strated in Exhibit), using the first in, trst-out method. under Fr two different costs, enter the units with the LOWER unit cost first in the cost of Goods Sold Unit Cost column and in the Inventory Unt Cost column Dunne Co. Schedule of Cost of Goods Sold FIFO Method For the Three Months Ended June 30 Cost of Goods Sold Inventory For the Three Man Cost of Goodspune 30 Check My Work 5 more Check My Work uses remaining Save and Eat Submit Assignment for signment Score: 0.0% MacBook Pro L UUN . ebook Show Me How Calculator FIFO Method For the Three Months Ended June 30 Cost of Goods Sold Quantity Unit Cost Total Cost Date Quantity Purchases Unit Cost Total Cost Inventory Unit Cost 225 Quantity 43 Apr. 3 Apr. 8 | Apr. 11 | Ape 30 May 8 May 10 May 19 May 28 une 21 Check My Work 5 more Check My Work uses remaining Save and Exit Submit signment Score: 0.0% June 28 June 30 Balances 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 were on account Record sale Record cost 3. Determine the gross profit from sales for the period. 4. Determine the ending inventory as of June 30 5. Based upon the preceding data, would you expect the ending inventory using the last in, first-out method to be higher or lower? Check My Work 5 more Check My Works remaining Save and Submit All work saved Assignment Score: 0.0%