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: \begin{tabular}{ll} August 3: & 3 books costing $15 each \\ August 15: & 4 books costing $15 each and 5 books costing $18 each \\ August 28: & 2 books costing $18 each and 3 books costing $20 each \end{tabular} 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 at the end of the 5. Serenity Books has the following transactions in August related to merchandise inventory. (i) (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: \begin{tabular}{ll} August 3: & 3 books costing $15 each \\ August 15: & 4 books costing $15 each and 5 books costing $18 each \\ August 28: & 2 books costing $18 each and 3 books costing $20 each \end{tabular} 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 at the end of the 5. Serenity Books has the following transactions in August related to merchandise inventory. (i) (Click the icon to view the transactions.) Read the requirements