CP6-39 (similar to) Calla Cance Company is a service based company that rents canoes for use on local lakes and rivers during 2018. In addition to rental serices, a logo printed on them. Calla Canoe Company uses the perpetual inventory system to account for the inventory. During February 2019, Calla Cano Click the icon to view the transactions.) Read the requirements Requirement 1. Assume Calla Canoe Company began February with 140 T-shirts in inventory that cost $8 each. Prepare the perpetual inventory Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. We will complete the schedule transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on 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 7 8 Sences, at the beginning of January 2019. Calla Canoe Company decided to carry and sell T-shirts with its ring Februn i More Info Prepare the Ve will cor entory purd Total Cost Feb. 2 Sold 90 T-shirts at $25 each. Feb. 5 Purchased 60 T-shirts at $11 each. Feb. 7 Sold 70 T-shirts for $25 each. Feb. 8 Sold 35 T-shirts for $25 each. Calla Canoe Company realized the inventory was running low, so it placed a rush order and Feb. 10 purchased 50 T-shirts. The premium cost for these shirts was $14 each. Feb. 12 Placed a second rush order and purchased 60 T-shirts at $14 each. Feb. 13 Sold 50 T-shirts for $25 each. Feb. 15 Purchased 60 T-shirts for $11 each. In order to avoid future rush orders, purchased 140 T-shirts. Due to the volume of the order, Feb. 20 Calla Canoe Company was able to negotiate a cost of $8 each. Feb. 21 Sold 15 T-shirts for $25 each. Feb. 22 Sold 60 T-shirts for $25 each. Feb. 24 Sold 45 T-shirts for $25 each. Feb. 25 Sold 50 T-shirts for $25 each. Feb. 27 Sold 50 T-shirts for $25 each. Print Done on local lakes and rivers during 2018. In addition to rental serices, at the beginning of January 2019. Calla Canoe Company decided to carry and sell T-shirts with its tem to account for the inventory. During February 2019. Calla Canoe Company completed the following merchandising transactions: shirts in inventory that cost $8 each. Prepare the perpetual inventory records for February using the FIFO inventory costing method. nd balances after each transaction. We will complete the schedule for the first five dates in this step, the next five dates in the following step, and so on. Once all of the sity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) Inventory on Hand Total Unit Total 0 More Info Cost Quantity Cost Cost Feb. 2 Sold 90 T-shirts at $25 each Feb. 5 Purchased 60 T-shirts at $11 each Feb. 7 Sold 70 T-shirts for $25 each Feb. 8 Sold 35 T-shirts for $25 each Calla Canoe Company realized the inventory was running low, so it placed a rush order and Feb. 10 purchased 50 T-shirts. The premium cost for these shirts was 514 each Feb. 12 Placed a second rush order and purchased 60 T-shirts at $14 each Feb. 13 Sold 50 T-shirts for $25 each Feb. 15 Purchased 60 T-shirts for $11 each In order to avoid future rush orders, purchased 140 T-shirts. Due to the volume of the order, Feb. 20 Calla Cance Company was able to negotiate a cost of $8 each Feb. 21 Sold 15 T-shirts for $25 each Feb. 22 Sold 60 T-shirts for $25 each Feb. 24 Sold 45 T-shirts for $25 each Feb. 25 Sold 50 T-shirts for $25 each. Clear A i Requirements 1. Assume Calla Canoe Company began February with 140 T-shirts in inventory that cost $8 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 to fc led Print Done TEUT FUTOTTAVUUTTU TODO In order to avoid future rush orders, purchas Feb. 20 Calla Canoe Company was able to negotiat Feb. 21 Sold 15 T-shirts for $25 each. CO T hide for S25 och