Water Way Company is a service based company that rents canoes for use on local lakes and rivers durieg 2024 . In addibon to eental serices, at the beginning of Janiary 2025 . Water Way Company decided to carry and sell Tshirts whith its logo printed on them. Water Way Company uses the perpetual inventory systern to account for the inventory During. Febraary 2025, Water Way Company completed the follosing merchandising transactions (1. (Click the icon to viow the transactions). Read the requirements Requirement 1. Assume Water Way Company began February with 70 . T-shirts in inventory that cost 56 each. Prepare the perpetual inventery records for February using the FIFO inventory costing method Enter the transactions in chrenological order, calculating new inventory on hand balances aher each transaction. We wall complete the schodule for the first free dates in this step. the neat five dates in the following step, and so on. Once all of the transactions have been entered into the perpetual record, calculate the quanitif and total cost of merchandise invertorv ourchased, sold, and on hand at the end of the period. (Enter the oldest imentory layers first) More info Feb. 2 Sold 20 T-shirts at $24 each. Feb. 5 Purchased 70 T-shirts at $7 each. Feb. 7 Sold 55 T-shirts for $24 each. Feb. 8 Sold 40 T-shirts for $24 each. Water Way Company realized the inventory was running low, so it placed a rush order and Feb. 10 purchased 55 T-shirts. The premium cost for these shirts was $10 each. Feb. 12. Placed a second rush order and purchased 75 T-shirts at $10 each. Feb. 13 Sold 55 T-shirts for $24 each. Feb. 15 Purchased 70 T-shirts for $7 each. In order to avoid future rush orders, purchased 200 T-shirts. Due to the volume of the order, Feb. 20 Water Way Company was able to negotiate a cost of $6 each. Feb. 21 Sold 20 T-shirts for $24 each. Feb. 22 Sold 100 T-shirts for $24 each. Feb. 24 Sold 35 T-shirts for $24 each. Feb. 7 Sold 55 T-shirts for $24 each. Feb. 8 Sold 40 T-shirts for $24 each. Water Way Company realized the inventory was running low, so it placed a rush order and Feb. 10 purchased 55 T-shirts. The premium cost for these shirts was $10 each. Feb. 12. Placed a second rush order and purchased 75 T-shirts at $10 each. Feb. 13 Sold 55 T-shirts for $24 each. Feb. 15 Purchased 70 T-shirts for $7 each. In order to avoid future rush orders, purchased 200 T-shirts. Due to the volume of the order, Feb. 20 Water Way Company was able to negotiate a cost of $6 each. Feb. 21 Sold 20 T-shirts for $24 each. Feb. 22 Sold 100 T-shirts for $24 each. Feb. 24 Sold 35 T-shirts for $24 each. Feb. 25 Sold 40 T-shirts for $24 each. Feb. 27 Sold 20 T-shirts for $24 each. Requirements 1. Assume Water Way Company began February with 70 T-shirts in inventory that cost $6 each. Prepare the perpetual inventory records for February using the FIFO inventory costing method. 2. Provide a summary for the month, in both units and dollars, of the change in inventory in the following Water Way Company is a service based company that rents canoes for use on local lakes and rivers durieg 2024 . In addibon to eental serices, at the beginning of Janiary 2025 . Water Way Company decided to carry and sell Tshirts whith its logo printed on them. Water Way Company uses the perpetual inventory systern to account for the inventory During. Febraary 2025, Water Way Company completed the follosing merchandising transactions (1. (Click the icon to viow the transactions). Read the requirements Requirement 1. Assume Water Way Company began February with 70 . T-shirts in inventory that cost 56 each. Prepare the perpetual inventery records for February using the FIFO inventory costing method Enter the transactions in chrenological order, calculating new inventory on hand balances aher each transaction. We wall complete the schodule for the first free dates in this step. the neat five dates in the following step, and so on. Once all of the transactions have been entered into the perpetual record, calculate the quanitif and total cost of merchandise invertorv ourchased, sold, and on hand at the end of the period. (Enter the oldest imentory layers first) More info Feb. 2 Sold 20 T-shirts at $24 each. Feb. 5 Purchased 70 T-shirts at $7 each. Feb. 7 Sold 55 T-shirts for $24 each. Feb. 8 Sold 40 T-shirts for $24 each. Water Way Company realized the inventory was running low, so it placed a rush order and Feb. 10 purchased 55 T-shirts. The premium cost for these shirts was $10 each. Feb. 12. Placed a second rush order and purchased 75 T-shirts at $10 each. Feb. 13 Sold 55 T-shirts for $24 each. Feb. 15 Purchased 70 T-shirts for $7 each. In order to avoid future rush orders, purchased 200 T-shirts. Due to the volume of the order, Feb. 20 Water Way Company was able to negotiate a cost of $6 each. Feb. 21 Sold 20 T-shirts for $24 each. Feb. 22 Sold 100 T-shirts for $24 each. Feb. 24 Sold 35 T-shirts for $24 each. Feb. 7 Sold 55 T-shirts for $24 each. Feb. 8 Sold 40 T-shirts for $24 each. Water Way Company realized the inventory was running low, so it placed a rush order and Feb. 10 purchased 55 T-shirts. The premium cost for these shirts was $10 each. Feb. 12. Placed a second rush order and purchased 75 T-shirts at $10 each. Feb. 13 Sold 55 T-shirts for $24 each. Feb. 15 Purchased 70 T-shirts for $7 each. In order to avoid future rush orders, purchased 200 T-shirts. Due to the volume of the order, Feb. 20 Water Way Company was able to negotiate a cost of $6 each. Feb. 21 Sold 20 T-shirts for $24 each. Feb. 22 Sold 100 T-shirts for $24 each. Feb. 24 Sold 35 T-shirts for $24 each. Feb. 25 Sold 40 T-shirts for $24 each. Feb. 27 Sold 20 T-shirts for $24 each. Requirements 1. Assume Water Way Company began February with 70 T-shirts in inventory that cost $6 each. Prepare the perpetual inventory records for February using the FIFO inventory costing method. 2. Provide a summary for the month, in both units and dollars, of the change in inventory in the following