Aug1 Begining merchandise inventory 10 books at $15 each

Aug 3 sold 3 books @ $20 each

Aug 12 Purchased 8 books @ $18 each

Aug 15 Sold 9 books @ $20 each

Aug 20 Purchased 4 books @ $20 each

Aug 28 Sold 5 books @ $25 each

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: 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 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. (Enter the oldest inventory layers first.)