Suomi QUIZ 5. Wise Books has the following transactions in August related to merchandise inventory (Click the icon to view the transactions) Read the requirements Unit Total Cost Unit Total Date Unit Quantity Cost Quantity Cost Cost Quantity Total Cost Cost Aug 1 3 12 15 20 28 Totals b. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the FIFO 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 More Info - Aug. 1 Aug. 3 Aug. 12 Beginning merchandise inventory, 15 books @ $19 each Sold 7 books @ $23 each Purchased 8 books @ $21 each Sold 11 books @ $23 each Purchased 3 books @ $28 each Sold 4 books @ $31 each Aug. 15 Aug. 20 Aug. 28 Print Done and ending merchandise inventory by preparing a perpetual inventory record using the FIFO inventory co