or Fancy Iron began August with 65 units of iron inventory that cost $30 each During August, the company comploted the following inventory transactions EEE Click the ioon to view the transactions Read the requirements Requirement 1. Prepare a perpetual inventory recoed for the merchandise inventory using the FIFO inventory costing method Start by entering the bo nning in e tory balances. Enter the transact ons n drorok al orde, oalat g new motory on hand bala e a r 00h haat Once ai, te trede % hre ber ore ed tho end of te perd (Ende teoet metry uers tst) into the perpetual record calculate the quartity and total oost of merehandse rventory purchased, told, and on hand Purchases Cost of Goods Sold Ieventory on Hand Unit Total Unit Total Cost Cost Quantity Cost Costty Cost Unit Total Date Quantity Aug. 1