Weighted Average Cost Method with Perpetual Inventory The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows: Number of Units 25 Date Transaction Apr. 3 Inventory 8 Purchase Per Unit Total $1,200 $30,000 75 1,240 93,000 80,000 11 Sale 40 2,000 30 Sale 30 2,000 1,260 May 8 Purchase 60 10 Sale 50 2,000 60,000 75,600 100,000 40,000 100,800 19 Sale 20 2,000 28 Purchase 80 1,260 40 2,250 90,000 June 5 Sale 16 Sale 25 2,250 56,250 21 Purchase 35 1,264 44,240 28 Sale 44 2,250 99,000 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the weighted average cost method. Dunne Co. Schedule of Cost of Goods Sold Weighted Average Cost Method For the Three Months Ended June 30 Cost of Goods Sold Purchases Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Apr. 3 Apr. 8 Apr. 11 Apr. 30 May 8 May 10 May 19 May 28 June 5 June 16 LIT June 21 June 28 June 30 Balances $ 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. Total sales S Total cost of goods sold Gross profit 3. Determine the ending inventory cost on June 30