ead the requirements Requirement 2. Prepare a perpetual inventory record for the merchandise inventory using the LIFO 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 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.) Purchases Cost of Goods Sold Inventory on Hand Unit Total Data Table Units Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Aug 1 3 Units Unit Cost Unit Sales Price 8 Sale $ 74 Auga Purchase 80 $ 43 Aug 21 Sale 70 70 21 Aug 30 Purchase 20 49 Aug 3 30 Print Done Enter any number in the edit fields and then click Check Antwer 6 Darts romaining Clear All Check Answer Q 23 3 5 4 % 5 2 6 7 00 9 0 Q W E R T P U 0 S D F G H J K L 1 of 1 (t completel PF6-29A (similar to) HW Score: 24.06%6, 6.02 of Question Help Luxury Iron Company began August with 70 units of iron inventory that cost $25 each. During August, the company completed the following inventory transactions m Click the icon to view the transactions) Read the requirements Purchases Unit Total Cost Cost of Goods Sold Units Total Quantity Cost Cost Inventory on Hand Unit Total Quantity Cost Cost Cost Date Quantity Aug. 1 3 Data Table 8 21 Unit Cost Unit Sales Price $ 74 30 5 Units 80 80 70 20 Aug. 3 Aug. Aug. 21 Aug. 30 43 Sale Purchase Sale Purchase 79 Totals Print Done Enter any number in the edit fields and then click Check Answer. 6 parts remaining Clear All Check Araw Q S 4 2 3 5 6 7 8 Q W E T Y