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FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 48 $150 $7,200 8 Purchase 96 180 17,280 11 Sale 64 500 32,000 30 Sale 40 500 20,000 May 8 Purchase 80 200 16,000 10 Sale 48 500 24,000 19 Sale 24 500 12,000 28 Purchase 80 220 17,600 June 5 Sale 48 525 25,200 16 Sale 64 525 33,600 21 Purchase 144 240 34,560 28 Sale 72 525 37,800 Required: 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, using the first-in, first-out method. Under FIFO, if units are in inventory at 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 Unit Cost column. Dunne Co. Schedule of Cost of Goods Sold FIFO Method For the Three Months Ended June 30 Purchases Cost of Goods Sold 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 June 21 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 cost 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? Suppose that Mexico experienced a very severe period of inflation in 1972. As prices in Mexico rose, the demand in the foreign exchange market for Mexican pesos: A rotating light is located 16 feet from a wall. The light completes one rotation every 2 seconds. Find the rate at which the light projected onto the wall is moving along the wall when the light's angle is 20 degrees from perpendicular to the wall. 2. Relatively few drivers are touched by thetraffic crash problem, either directly orindirectly. TRUE OR FALSE attachment help for question c no explanation only answer thank you In the image, the arrow Is pointing to a celestial object. Which attribute disqualifies the object from being a planet?A. It appears to have no moons.B. It is spherical in shape.C. Its neighborhood is not clear.D. It has horizontal bands on its surface. Puzzle cornerLook Before You Leap!See how long it takes you to work out thefollowing:(1 x2)(3 x 4)(586)(7 x 8) x (90) Which geometric sequence has a first term equal to 55 and a common ratio of -5? {-55, 11, -2.2, 0.44, } {55; 275; 1,375; 6,875; } {55, 11, 2.2, 0.44, } {55; -275; 1,375; -6,875; } Cloud computing gives you the ability to expand and reduce resources according to your specific service requirement.a. Trueb. False Which compromise led to the South's agreement to accept Hamilton's plan? A) state debts would not be paid B) The Bank of the United States would be located in Georgia. C) The United States capital would be moved further south. D) Three-fifths of state debt would be paid. Brian invested his savings in two investment funds. The $8000 that he invested in Fund A returned a 4% profit. The amount that he invested in Fund B returned a 1% profit. How much did he invest in Fund B, if both funds together returned a 2% profit? For lunch, Kile can eat a sandwich with either ham or a bologna and with or without cheese. Kile also has the choice of drinking water or juice with his sandwich. The total number of lunches Kile can choose is which expression have a value of 2/3 A: 8+(24 divided by 12) X 4B:8+24 divided by (12X4)C: 8+24 divided 12X4D: (8+24) divided (12X4) Matter is anything that has mass and takes upspace.Which of the following is an example ofmatter?A. ear phonesB. musicC. sunlightD. heat The end of the trans-Atlantic slave trade resulted in which word o word go with abilities Find the vector and parametric equations for the line through the point P(0, 0, 5) and orthogonal to the plane 1x+3y3z=1. Vector Form: r hich of the following is NOT one of the ways companies are using mobile apps? Group of answer choices track behavior across tablets and mobile devices utilize cookies to track mobile activity utilize GPS data to provide location-based offers track loyalty program participation add social value and entertainment to consumers' lives What is the width of the rectangle shown below? 4x + 3 A = 8x2 10x 12 Combine the radicals. 224+554 A) 536 B) 56 C) 196 D) 936