Oncerative the began August with unta of iron inventory mat com 35 toch During August, the company completed the following riconory transaction the con lo view the transaction Data table Units Unit Cost Unit Sale Price Read the Requirement 2. Prepare a perpetuoventory cecord for the merchandise ventory wing the Fiventory costing method surt by entering the beginning tortes Enter the transactions in chronological order calculating new inventory been entered into the perpetrecord, calculate the quantity and total cost of merchandisewentory purchased sold, and of Purchases Cost of Goods Inventory on Hand Unit Total Units Unit Total Date Quantity Cost Cost Quantity Cost Quantity Cost Cost Aug 1 45 35 75 52 3.000 45 2 Cost Aug. Aug Aug 21 Aug 30 Sale Purchase Sale Purchase 75 To 10 05 55 1 21 70 17 Print Done 30 10 55 500 Total Requirements. Prepare a perpetua inventory record for the merchandise invertory using the weighted average inventory costing method Start by entering the beginning inventory balances Enter the transactions in chronological ordet calcating new inventory on hand balances her each transaction Once all of the transactions have been entered into the perpetual record clue the quantity and total cost of merchandise inventory purchased sold and on hand at the end of the period Purchase Cost of Goods Sold Inventory on Hand Unit Total Un Total Unit Total Date Quantity Cout Cost Quantity Cout Cost Quantity Cost Cost Aug 1 3 3 3,000 21 30 10 56 50 Total Requirement 4 Determine the company's cost of goods sold for Augusto FIFO UFO, and we were inventory costing methods Requirement 4. Determine the company's cost of goods sold for August using FIFO, LIFO and weighted average inventory costing methods The cost of goods sold amount for Alagunt using FIFO inventory conting is The cout of goods sold amount for August using UFO inventory costing is The cost of goods told amount for August using weighted average inventory costing is Requirements Compute gross profit for August using FIFO, LIFO and weighted average inventory costing methods Sales Revenue Cost of Sold Cross profit FIFO LIFO Weighted average Requirement of the business wanted to maxime gross profit which method would it see? the business wanted to main gross profit it would select the method