om Iron R Us 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.) rchase Options Read the requirements alendar Requirement 1. Prepare a perpetual inven i Data Table Start by entering the beginning inventory by Once all of the transactions have been end at the end of the period. (Enter the oldest in hand balances after each transaction inventory purchased sold, and on hand Purchases Unit Cost Unit Sales Price $ 72 Unit Cost Quantity Units 45 65 55 20 $ Date 41 Aug. 3 Sale 8 Purchase 21 Sale 30 Purchase Aug 56 -Orabone esther adeo -29 1 of 1 (0 complete) units of Iron inventory that cost $25 each. During August, the company completed the following inventor i Requirements ver ve bel the o balance Intory pur nases bit 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method 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? fields Ched