Decorative Steel began August with 55 units of iron inventory that cost $35 each. During August, the company completed the following inventory transactions (Click the icon to view the transactions.) Read the requirements. Requirement 3. Prepare a perpetual inventory record for the merchandise inventory using the weighted average inventory costing method 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 th 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 Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Aug. 1 Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost 3 8 21 Totals 30 teel began August with 55 units of iron inventory that cost $35 each. During August, the company completed the folle e icon to view the transactions.) ble ement Data table - X nt 3. Prep inventory costing Units Unit Cost Unit Sales Price tering the nventory on hand s have bee Aug. 3 Sale 45 69 $ 83 entory purchased, Aug. 8 Purchase 75 $ 52 Aug. 21 Sale 70 Aug. 30 Purchase 10 55 Quantit 59 85 Total Cost 11 3 8 21 30 Print Done