ACC 111 701 FA 18 Emily Filus &1 1024/18 1153 PM Homework: Chapter 6 Score: 0 of 30 pts P6-29A (similar to) 1 of 2 (1 complene) Hw Score: 25%, 100f 40 pts Luxury ron Company began August with 76 units of iron inventory that cost $20 each. During August the company completed the felowing inventory transactions E ack tnoon to view the transactors) Read the requiremenls Requirement 1. Prepare a perpetual inventory recond for e merchandise invenlory using the FIFO inventory conting methed Start by entering the beginning inventory balances. Enter the transactions in chronological arder,calulating new inventory on hand baiances after each tramacton Once a calculate the quanlity and total cost of merchandise inventory purchased, sold, and on hand at the end of the perlod.(Enber the oidest inventory layers first) o Cost of Goods Solkd Inventory on Hand Unit Total Unit Total Unit Total Quantity Cost Date QuantityCostCost Quantity CstCt Quantty Aug 1 1. Prepare a perpetual inventory record for the merchandise inventory using the FFO invenlory costing method 2. Prepare a perpetual invenstary recond for the merchandise inventory using the . Prepare a perpetual inventory recond for the merchandse inventory using he 4 Detemine the company's cost of goods soid for August using FIFO LIFO s Compule gross prolit for Auguat using FIFO, LIFO, and weighted-average d. If the business wanted to masiniae gross prolit. which method wouild weighted-average inventory cosling method and weighted-average inventory cesting methods Invenlory costing methods select? Data Table Print Done Totals Unit Cost nt 85 $ 59 Aug 3 Sale 8Prchase 70 28 21 Sale 3 Puschae25 Enter any number in the edit felds and then click Check