Atlanta Metal began August with 45 units of iron inventory that cost $24 each. During August the company completed the following inventory? transactions:?

Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. Prepare BOTH a FIFO and a LIFO document.

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 period.

Requirement 1. Prepare ? perpetual inventory record for the merchandse nventory usng the FIFO nvetory costing method. hand at the end of th pericd. (Enler the aldcst inwarbory layars fiet) Inventory on Hand Unit Tobal Unit Total 1 Da:a Table Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Aug. 1 Aug. 3 Sao 36 21 Sale 30 Purthase 25 47 Print Dona Totas