Wonder Wilderness Company is a service based company that rents cances for use on local lakes and rivers during 2018. In addition to rental serices, at the beginning of January 2019, Wonder Wilderness Company decided to carry and sell T-shirts with its logo printed on them. Wonder Wilderness Company uses the perpetual inventory system to account for the inventory. During February 2019. Wonder Wilderness Company completed the following merchandising transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Assume Wonder Wildemess Company began February with 40 T-shirts in inventory that cost $3 each. Prepare the perpetual inventory records for February using the FIFO inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. We will complete the schedule for the first five dates in this step, the next five dates in the following step, and so on. 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. (Enter the oldest inventory layers first.) Purchases Unit Cost of Goods Sold Total Unit Total Inventory on Hand Unit More Info Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Feb. 1 2 Feb. 2 Feb. 5 Sold 30 T-shirts at $24 each. Purchased 90 T-shirts at $4 each. 5 Feb. 7 Sold 25 T-shirts for $24 each. Feb. 8 Sold 55 T-shirts for $24 each. T Feb. 10 Wonder Wilderness Company realized the inventory was running low, so it placed a rush order and purchased 60 T-shirts. The premium cost for these shirts was $7 each. Feb. 12 Placed a second rush order and purchased 80 T-shirts at $7 each. 8 10 Feb. 13 Sold 60 T-shirts for $24 each. Feb. 15 Purchased 90 T-shirts for $4 each. 12 Feb. 20 In order to avoid future rush orders, purchased 120 T-shirts. Due to the volume of the order, Wonder Wilderness Company was able to negotiate a cost of $3 each. Feb. 21 Sold 15 T-shirts for $24 each. 13 Feb. 22 Sold 100 T-shirts for $24 each. 15 Feb. 24 Sold 55 T-shirts for $24 each. Feb. 25 Sold 70 T-shirts for $24 each. Enter any number in the edit fields and then continue to the next question. Save for Later Feb. 27 Sold 60 T-shirts for $24 each. Print Done Wonder Wilderness Company is a service based company that rents canoes for use on local lakes and rivers during 2018. In addition to rental serices, at the beginning of January 2019, Wonder Wilderness Company decided to carry and sell T-shirts with its logo printed on them. Wonder Wilderness Company uses the perpetual inventory system to account for the inventory. During February 2019, Wonder Wilderness Company completed the following merchandising transactions: (Click the icon to view the transactions.) Read the requirements. 21 22 More Info - Feb. 2 Sold 30 T-shirts at $24 cach. 24 Feb. 5 Purchased 90 T-shirts at $4 each. Feb. 7 Sold 25 T-shirts for $24 each. 25 Feb. 8 Sold 55 T-shirts for $24 each. 27 Feb. 10 Wonder Wilderness Company realized the inventory was running low, so it placed a rush order and purchased 60 T-shirts. The premium cost for these shirts was $7 each. Feb. 12 Placed a second rush order and purchased 80 T-shirts at $7 each. Totals Feb. 13 Sold 60 T-shirts for $24 each. Requirement 2. Provide a summary for the month, in both units and dollars, of the change in inventory in the following format: Feb. 15 Purchased 90 T-shirts for $4 each. Number of T-shirts Dollar Amount Feb. 20 In order to avoid future rush orders, purchased 120 T-shirts. Due to the volume of the order, Wonder Wilderness Company was able to negotiate a cost of $3 each. Feb. 21 Sold 15 T-shirts for $24 each. Beginning Balance T-shirts Feb. 22 Sold 100 T-shirts for $24 each. Add: Purchases T-shirts Feb. 24 Sold 55 T-shirts for $24 each. Less: Cost of Goods Sold T-shirts Feb. 25 Sold 70 T-shirts for $24 each. Ending Balance T-shirts Feb. 27 Sold 60 T-shirts for S24 each. Enter any number in the edit fields and then continue to the next question. Save for Later Print Done