K Iron Man 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 requirements 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 Unit Cost of Goods Sold Inventory on Hand Total Unit Total Unit Total Data table Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Aug 1 3 45 25 1125 8 21 Units Unit Cost Aug. 3 Aug. 8 Sale Purchase 45 $ Unit Sales Price 72 Aug. 21 Sale 65 S 41 55 86 Aug. 30 Purchase 20 50 30 Totals Requirement 2. Prepare a perpetual inventory record for the merchandise inventory using the LIFO inventory costing met Print Done Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory i hans bushes anor Balan Transalecon Once air of the VaresCIONE PAPE 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 Unit Total Cost of Goods Sold Units Total Inventory on Hand Unit Total