Steel Mill began August with 50 units of iron inventory that cost $35 each. During August, the compary completed the following imventory transactions: Requirements 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 UFO inventory costing method. 3. Prepare a perpetual inventory record for the merchandise inventory using the weightedaverage imventory costing method. 4. Determine the company's cost of goods sold for August using FIFO, UFO, and weightedaverage inventory costing methods. 5. Compute gross profit for August using FIFO, LFO, and weighted-average inventory costing methods