5. Heavenly 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 recond using the specific identification method. Assume the flowing costing information for the books sold during the m August 3 7 books costing $15 each August 15 August 20 7 books costing $19 each and 4 books costing $21 each 2 books costing $21 each and 2 books costing $2 each Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on ha perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the p More info Purchases Unit Cost of Goods Sold Total Unit Total Inventory on Hand Unit Total Avg. 1 Aug. 3 Aug 12 Beginning merchandise inventory 15 booksh S Date Quantity Cost Cost Quantity Cest Quantity Cost Cost Aug. 15 Aug 1 Aug 201 Purchased & book 21 ch 1123 Purchad 3 books " Aug 28 Sold 4 Socks 20 12 15 0 Print Done