Fancy Iron began August with $70$ 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 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 perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the perio

Data table

$\backslash$table$[[$Aug$.3,$Sale, Units

$60,$Unit Cost,Unit Sales Price$],[,$$$,74],[$Aug$.8,$Purchase,$80,$$ $43,,],[$Aug$.21,$Sale,$70,,,79],[$Aug$.30,$Purchase,$20,49,,]]$