Happy Camper Company is a service based company that rents cances for use on local lakes and rivers during 2018. In addition to rental serices, at the beginning of January 2018, Happy Camper Company decided to carry and sell T-shirts with its logo printed on them. Happy Camper Company uses the perpetual inventory system to account for the inventory. During February 2019, Happy Camper Company completed the following merchandising transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Assume Happy Camper Company began February with 40 T-shirts in inventory that cost $11 each. Prepare the perpetual inventory records for February using the FIFO inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. We will complete the schedule for the first five dates in this step, the next five dates in the following stop, and so on. 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 Unit Unit Total Total Cost Inventory on Hand Unit Total Quantity Cost Cost Date Cost Quantity Quantity Cost Cost Feb. 1 2 5 Enter any number in the edit fields and then click Check Answer Clear All 4 parts remaining Check Answer Check Answer i More Info Feb. 2 Sold 20 T-shirts at $23 each. Feb. 5 Purchased 70 T-shirts at $14 each. Feb. 7 Sold 40 T-shirts for $23 each. Feb. 8 Sold 30 T-shirts for $23 each. Happy Camper Company realized the inventory was running low, so it placed a rush order and Feb. 10 purchased 25 T-shirts. The premium cost for these shirts was $17 each. Feb. 12 Placed a second rush order and purchased 55 T-shirts at $17 each. Feb. 13 Sold 25 T-shirts for $23 each. Feb. 15 Purchased 70 T-shirts for $14 each. In order to avoid future rush orders, purchased 180 T-shirts. Due to the volume of the order, Feb. 20 Happy Camper Company was able to negotiate a cost of $11 each. Feb. 21 Sold 50 T-shirts for $23 each. Feb. 22 Sold 50 T-shirts for $23 each Feb. 24 Sold 25 T-shirts for $23 each Feb. 25 Sold 70 T-shirts for $23 each Feb. 27 Sold 50 T-shirts for $23 each