Steel it began August with 45 units of iron inventory that cost $24 each. During August, the company completed the following inventory transactions (Click the icon to view the transactions.) Read the requirements Requirement 3. Prepare a perpetual inventory record for the merchandise inventory using the weighted average 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 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. Purchases Cost of Goods Sold Inventory on Hand Unit Date Quantity Cost Total Cost Unit Total Unit Total Data table Quantity Cost Cost Quantity Cost Cost Aug 1 Totals 8 21 30 Aug 3 Aug. 8 Sale Purchase Units 35 Unit Cost Unit Sales Price S Aug. 21 Sale 65 Aug. 30 Purchase 25 288 70 S 32 47