core: 0 of 40 pts 2 of 2 (0 cor P6-39 (similar to) Better Boat Company is a service based company that rents canoes for use on local lakes and rivers during 2018. In addition to rental seric Better Boat Company uses the perpetual inventory system to account for the inventory. During February 2019, Better Boat Company compl Click the icon to view the transactions.) Read the requirements Requirement 1. Assume Better Boat Company began February with 120 T-shirts in inventory that cost $4 each. Prepare the perpetual Inven Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. We will complete the schedu entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of t Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Feb. 1 2 5 8 Better Boat Company the prevrystem to account for the walory. During February 2018, Boat Completed the marchandising Bon Company is a stored company that contact for use on local and during 2018 nation to enter the beginning of January 2018 BewBoat Company decided to carry and also pronten Chotoven) Read the Hequirement 1. Amuwer Boat Company degan February wth 120 This inventory that cost each. Prebere the perpetuo vettory recordstor Fabrary wing the FIFO inventory method. Enter the action in chronological order, clating new invertory on hand balance sheach action. We will complete the whole treffen. The next to cut in the town, den. Once the con to the perpetual Proceedevaly and continenchandise for purchased cold and on and we end of a period free nentory yere to Purchase Cost of Good Sold ventory on Hand Unit To Cest Quy Cast To Unit Un CA Total C Date Com C 2 + En het denk Cheche An CN i More Info Feb. 2 Sold 90 T-shirts at $23 each. Feb. 5 Purchased 80 T-shirts at $5 each. Sold 55 T-shirts for $23 each. Feb. 7 Feb. 8 Sold 50 T-shirts for $23 each. Feb. 10 Better Boat Company realized the inventory was running low, so it placed a rush order and purchased 55 T-shirts. The premium cost for these shirts was $6 each. Feb. 12 Placed a second rush order and purchased 80 T-shirts at $6 each. Feb. 13 Sold 55 T-shirts for $23 each. Feb. 15 Purchased 80 T-shirts for $5 each Feb. 20 In order to avoid future rush orders, purchased 170 T-shirts. Due to the volume of the order, Better Boat Company was able to negotiate a cost of $4 each. Feb. 21 Sold 30 T-shirts for $23 each. Feb. 22 Sold 80 T-shirts for $23 each. Feb. 24 Sold 35 T-shirts for $23 each. Feb. 25 Sold 40 T-shirts for $23 each. Feb. 27 Sold 60 T-shirts for $23 each. in inventory that cost $4 each. Prepare the perpetual inventory records for February using the FIFO inventory Requirements 1. Assume Better Boat Company began February with 120 T-shirts in inventory that cost $4 each. Prepare the perpetual inventory records for February using the FIFO inventory costing method. 2. Provide a summary for the month, in both units and dollars, of the change in inventory in the following format: Number of T-shirts Dollar Amount Beginning Balance Add: Purchases Less: Cost of Goods Sold Ending Balance Print Done