5. Happy Books has the following transactions in August related to merchandise inventory (Click the icon to view the transactions.) Read the requirements a. Determine the cost of goods sold and ending merchandise Inventory by preparing a perpetual inventory record using the specific identification method. Assume the following costing Information for the books sold during the month: August 3: 4 books costing $10 each August 15 6 books costing $16 each and 5 books costing $18 each August 28 2 books costing $18 each and 2 books costing $25 each Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each tra calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first. i Requirements Purchases i More Info Unit Date Quantity Cost Aug. 1 Aug. 1 3 12 8 15 Aug. 3 Aug. 12 Aug. 15 Aug. 20 Aug. 28 Beginning merchandise inventory, 12 books @ 516 each Sold 4 books @ $20 each Purchased 8 books @ $18 each Sold 11 books @ $20 each @ Purchased 3 books@ $25 each Sold 4 books @ $28 each a. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the specific identification method, Assume the following costing information for the books sold during the month: August 3: 4 books costing $16 each August 15: 6 books costing $16 each and 5 books costing $18 each August 28 2 books costing $18 each and 2 books costing $25 each b. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the FIFO inventory costing method. e. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the LIFO inventory costing method. d. Determine the cost of goods sold and ending merchandise Inventory by preparing a perpetual inventory record using the weighted-average inventory costing method. Round weighted average unit cost to the nearest cent and total cost to the nearest dollar 15 20 4|| 20 Print Done Enter any number in the edit fields and then continue to the next question. Print Done