It's About Time specializes in designer watches and leather goods. It's About Time uses the perpetual inventory system. Assume lt's About Time began June holding 15 wristwatches that cost $20 each. During June, It's About Time bought and sold inventory as follows: (Click the icon to view the transactions.) Read the requirements: Requirement 1. Prepare a perpetual inventory record for It's About Time using the FIFO, LIFO, and weighted-average inventory costing methods Begin by preparing a perpetual inventory record using FIFO. 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. It's About Time specializes in designer watches and leather goods. It's About Time More info FIFO