Steel Mill began August with 75 units of iron inventory that cost $20 each. During August, the company completed the following inventory transactions: (Click the icon to view the transactions.) Read the requirements. 10 $ 28 $ 280 25 $ 45 $ 1,125 95 3,085 Totals 125 $ 2,980 45 1,605 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 Data Table Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Units Unit Cost Unit Sales Price Aug. 1 Sale 65 $ 59 3 Purchase 70 $ 28 8 Aug. 21 Sale 60 75 21 Aug. 30 Purchase 25 45 30 Cost Aug. 3 Aug. 8 Totals Print Done Help Me Solve This e Text Pages Get More Help Check Answe