5. Wise Books has the following transactions in August related to merchandise Inventory Click the icon to view the transactions.) Read the requirements c. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the LIFO Inventory coating method Start by entering the beginning inventory balances. 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, sold, and on hand the end of the period. (Enter the oldest inventory layers first.) Purchases Cost of Goods Sold Inventory on Hand Unit Total Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Unit Aug 1 3 12. 15 20 28 Totals ... More Info - Aug. 1 Aug. 3 Aug. 12 Aug. 15 Aug. 20 Aug. 28 Beginning merchandise inventory, 15 books @ $19 each Sold 7 books @ $23 each Purchased 8 books @ $21 each Sold 11 books @ $23 each Purchased 3.books @ $28 each Sold 4 books @ $31 each Print Done