5. Resourceful Books has the following transactions in August related to merchandise inventory. i (Click the icon to view the transactions.) Read the requirements. Requirements a. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the specific identific August 3: 5 books costing $21 each August 15: August 28: 10 books costing $21 each and 5 books costing $23 each 6 books costing $23 each and 2 books costing $26 each Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balance perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. (Ent 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: 5 books costing $21 each August 3: August 15: August 28: 10 books costing $21 each and 5 books costing $23 each 6 books costing $23 each and 2 books costing $26 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. Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Aug. 1 17 21 357 3 5 21 105 10 25 25 250 12 12 23 276 10 25 12 22 250 23 276 More info 15 10 21 210 - X 20 20 28 Totals Aug. 1 Beginning merchandise inventory, 17 books @ $21 each Aug. 3 Sold 5 books @ $25 each Aug. 12 Purchased 12 books @ $23 each Aug. 15 Sold 15 books @ $25 each Aug. 20 Aug. 28 Purchased 3 books @ $26 each Sold 8 books @ $32 each Print Done