Aug.1 Beginning merchandise inventory,12 books @ $16 each Aug. 3 Sold4books@\$20 each Aug. 12 Purchased 8 books @ \$18 each Aug.15 Sold 11 books @ \$20 each Aug. 20 Purchased 3 books @ \$25 each Aug.28Sold4books@\$27 each a. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual invent sold during the month: Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculat entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchase