5. Peaceful Books has the following transactions in August related to merchandise Inventory Click the icon to view the transactions) Read the mouirements. 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 coating information for the books sold during the month August 3 4 books costing $13 each August 15 4 books costing 513 each and 2 books costing 515 each August 28 2 books costing 515 each and 1 books costing 517 each Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balance after each transaction. Once all of the transactions have been entered into the perpetual record. Calculate the quantity and total cost of merchandise inventory purchased sold, and on hand at the end of the period (Enterreldesinventory layers.) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Data Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Aug 1 os 13 5 117 a 45 135 55 138 55 155 75 55 13s 65 $ 15 5 78 151 133 15 135 25 155 30 35 T5 45 20 17S 13 135 als 155 45 25 1715 2 12 45 52 13 13 34 Enter any number in the editriolds and then click Check Answer b. Determine the cout of goods told and ending merchandise inventory by preparing a perpetual (wentory record uting the FIFO inwentory couting method Start by entering the beginning inventory balance. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, told, and on hand at the end of the porod Enter the sidest inventory layers fint.) Purchases Unit Cost Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Inventory on Hand Unit Total Quantity Cost Cost Date Quantity Aug 1 3 45 13 52 12 55 155 75 15 52 41$ 2 15 30 20 25 17 34 15 25 28 20 $ 100 Total Erdor any number in the edt tieds and then click Check Answer 2 parts C AB Check Answer 39 GLO 1811 45 ng mg Requirements X ng metho ances calcu er each tr end of the 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 $13 each August 15: 4 books costing $13 each and 2 books costing $15 each August 28: 2 books costing $15 each and 1 books costing $17 each b. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the FIFO inventory costing method c. 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. 75 34 Print Done In August related to merchandise inventory. nsactions.) 109 1811 45 old and ending me i Requirements hg me ventory balances etual record, calcu er eac End of * More Info - x ses Total Aug. 1 Cost Aug. 3 Aug. 12 Aug. 15 Aug. 20 Aug. 28 Beginning merchandise inventory, 9 books @ $13 each Sold 4 books @ $17 each Purchased 5 books @ $15 each Sold 6 books @ $17 each Purchased 2 books @ $17 each Sold 3 books @ $21 each 15$ 75 LL 17 34 Print Done Print Done