entering transactions.

Iron Hill began August with 60 units of iron inventory that cost $25 each. During August the company completed the following inventory transactions: Click the icon to view the transactions) Read the tirements Requirement 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO 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 Inventory on Hand Unit Total Cost of Goods Sold Unit Total Quantity Cost Cost Unit Total i Data Table Quantity Cost Cost Quantity Cost Date Aug. 1 Units Unit Cost Unit Sales Price Aug. 3 Sale $ 41 8 Purchase 21 Sale 30 Purchase 65 55 Print Done Totals