HW Sc P6-29A (similar to) Iron Man began August with 60 units of iron inventory that cost $2 EB (Cick the icon to view the transactions 5 each. During August, the company completed the following inventory transactions Read the requirements Requirements Requirement 1. Prepare a perpetual invento 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method Start by entering the beginning inventory bat have been entered into the perpetual record layers first.) 2. Prepare a perpetual inventory record for the merchandise inventory using the LIFO inventory costing method 3. Prepare a perpetual inventory record for the merchandise inventory using the weighted-average inventory costing method. 4. Determine the company's cost of goods sold for August using FIFO, LIFO, and weighted-average inventory costing methods 5. Compute gross profit for August using FIFO, LIFO, and weighted-average inventory costing methods. 6 If the business wanted to maximize gross profit, which method would it select? Purchases Enter any number in the edit fields and the Print Done remaining O Type here to search 3/s 5 6 8 9 2 1 Data Table Units Unit Cost Unit Sales Price Aug. 3 Sale 45 72 8 Purchase 21 Sale 30 Purchase 65 $ 41 86 20 56 Print Done