Question Help TIF6-2 (book/static) 5. Serenity Books has the following transactions in August related to merchandise inventory cick the icon to view the transactions) Read the requirements 1. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the specific identification method. Assume the following conting information for the books sold during the month August 3: 3 books costing $15 each August 15 4 books costing $15 pch and 5 books costing $18 each August 28 2 books costing $18 each and 3 books costing $20 each 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 the 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 Layon first) Read the requirements Purchases Unit Cost Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Inventory on Hand Unit Total Quantity Cost Cost Date Quantity Aug 1 3 12 15 Enter any number in the edit fields and then click Check Answer C Clear All 3 parts remaining BV AIL 18 Read the requirements 20 28 Totals (book/static) y Books has the following transactions in Ay- the icon to view the transactions.) urements. More Info 20 Aug. 1 Aug. 3 Aug. 12 Aug. 15 Aug. 20 Aug. 28 Beginning merchandise inventory, 10 books @ $15 each Sold 3 books @ $20 each Purchased 8 books @ $18 each Sold 9 books @ $20 each Purchased 4 books @ $20 each Sold 5 books @ $25 each 28 Print Done my number in the edit fields and then click Chec Clear All S