Nature Gnome Company is a service based company that rents canoes for use on local lakes and rivers during 2024 . In addition to rental serices, at the beginning of January 2025. Nature Gnome Company decidod to carry and sel T-shirts with its logo printed on them. Nature Gnome Company tases tho perpetual inventory systom to account for the inventory During February 2025, Nature Gnome Company completed the following merchandising transactions i. (Click the icon to view the fransactions) Read the eequirements Requirement 1. Assume Nature Gnome Company began Fobruary wah 70 T-shits in imventory that cost $10 each. Prepare the porpetual inventory records for February using the FIFO inventory costing twethod Enter the transactions in chronological order, calculating new hwentory on hand balances atter oach transaction. We will complete the schedula for the first fire dates in this step. the next five dates in the following step, and so on. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandisi inventery purchased, sold, and on hand at the end of the peciod. (Enter the oidest hventery layers frst.) More info Feb. 12 Placed a second rush order and purchased 75 T-shirts at $14 each. Feb. 13 Sold 50 T-shirts for $21 each. Feb. 15 Purchased 50 T-shirts for $13 each. In order to avoid future rush orders, purchased 130 T-shirts. Due to the volume of the order, Feb. 20 Nature Gnome Company was able to negotiate a cost of $10 each. Feb. 21 Sold 60 T-shirts for $21 each. Feb. 22 Sold 60 T-shirts for $21 each. Feb. 24 Sold 15 T-shirts for $21 each. Feb. 25 Sold 50 T-shirts for $21 each Feb. 27 Sold 60 T-shirts for $21 each