econ 121

a. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the specific identification method. Assume the following costing information for the books sold during the month: August 3 : 7 books costing $19 each August 15: 7 books costing $19 each and 4 books costing $21 each August 28: 2 books costing $21 each and 2 books costing $28 each b. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the FIFO inventory costing method. c. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the LIFO inventory costing method. d. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the weighted-average inventory costing method. Round weighted average unit cost to the nearest cent and total cost to the nearest dollar. More info Rugiest 3: 7 bocks cosing $19 ouch Auguet to 7 books costing 519 each and 4 books cocting 521 eleh Nugust 2b: 2 becies coning $21 eath and 2 books corling $28 each c. Determine the cott of goods seis and ending merchuedise imertiofy by pooparing a perpetal imentary record using the Lifo ifventory costing methed