Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Aug. 1 3 8 21 30 30 Totals gust with 55 units of iron inventory that cost $35 each. During August, the company the transactions.) Data table Units Unit Cost Unit Sales Price Aug. 3 Sale 45 EA $ 83 Aug. 8 Purchase 75 $ 52 Aug. 21 Sale 70 85 S Aug. 30 Purchase 10 55 Print Done - X Decorative Steel began August with 55 units of iron inventory that cost $35 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 th 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. Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date: Aug. 1 Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost 3 8 21 Decorative Steel began August with 55 units of iron inventory that cost $35 each. During August, the company completed the following inventory (Click the icon to view the transactions.) Read the requirements. (Lin e Usy says nb) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Aug. 1 3 8 21 30 Totals le rement URL BIVE Data table Units Unit Cost Unit Sales Price Aug. 3 Sale 45 $ 83 Quantit Aug. 8 Purchase 75 S 52 52 1 Aug. 21 Sale 70 SP 85 3 Aug. 30 Purchase 10 55 8 21 als 30 Get more help- Search 4+ Print Done D 144 6 & 7 8 9 3 90 X