Cranston Lawn Supply, which uses the FIFO method, began August with 178 units of inventory that cost $58 each. During August, Cranston completed these inventory transactions: (Click the icon to view the transactions.) Required 1. Prepare a perpetual inventory record for the fertilizer. 2. Determine Cranston's cost of goods sold for August. 3. Compute gross margin for August Fertilizer Purchases Cost of Goods Sold Date QTY Unit Cost Tot. Cost QTY Unit Cost Tot. Cost Inventory on Hand QTY Unit Cost Tot. Cost 178 58 10324 Aug. 1 Transactions 52 64 3328 Aug. 2 Aug. 8 Aug. 2 Purchase 8 Sale 17 Purchase 22 Sale Units Unit Cost Unit Sale Price 52 $64 142 $146 106 $74 128 $168 I Aug. 17 Aug. 22 Print Done Endinn