Steel Megan August 6 units of iron inventory that cost $30 each. During August, the company completed the following inventory transactions: click the icon to view the reactions Read Regutrement 1. Procare a perpetual y record for the mechando lettory using the FIFO inventory cooling method. Sort by anteng te beginning vertory balances Enter the traction in chronological order colliting new entry on hand balans terech transaction. Once all of the transactions have been entered to the perpetual cont calculate the quantity and total cost of merchandise inventory purchased, old, and on and at the end of a period. (Enter the destinvertory Wyers first) Purchase Cost of Goods Bela Inventory on Hand Unit Tot UR Total Total Date Cost Com Quantity Cost Gost Aug 2 COM 2 30 Totals insactions.) Data Table Units Unit Cost Unit Sales Price Sale 50 $ 81 Aug. 3 Aug. 8 Purchase 85 $ 50 Aug. 21 Sale 80 75 Aug. 30 Purchase 20 45 Print Done nts erpetual inventory record for the merchandise in ory costing method. erpetual inventory record for the merchandise in ory costing method. erpetual inventory record for the merchandise in Ferage inventory costing method. he company's cost of goods sold for August using ed-average inventory costing methods. oss profit for August using FIFO, LIFO, and weigh osting methods. ess wanted to maximize gross profit, which method Print Done he following in * Requirements ng Intot men (EO ota 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. 2. Prepare a perpetual inventory record for the merchandise inventory using the LIFO inventory costing method. 3. Prepare a perpetual inventory record for the merchandise inventory using the weighted average inventory costing method. 4. Determine the company's cost of goods sold for August using FIFO, LIFO, and weighted-average inventory costing methods. 5. Compute gross profit for August using FIFO, LIFO, and weighted average inventory costing methods. 6. If the business wanted to maximize gross profit, which method would it select? os Print Done