Question: More info identification method. Ass balances after each trans. a end of the period. (Enter Requirements a. Determine the cost of goods sold and ending

 More info identification method. Ass balances after each trans. a end
of the period. (Enter Requirements a. Determine the cost of goods sold
and ending merchandise inventory by preparing a perpetual inventory record using the
specific identification method. Assume the following costing information for the books sold
during the month: August 3 : 6 books costing $20 each August
15: 5 books costing $20 each and 7 books costing $22 each

More info identification method. Ass balances after each trans. a end of the period. (Enter Requirements a. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the specific identification method. Assume the following costing information for the books sold during the month: August 3 : 6 books costing $20 each August 15: 5 books costing $20 each and 7 books costing $22 each August 28: 2 books costing $22 each and 5 books costing $28 each b. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the FIFO inventory costing method. c. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the LIFO inventory costing method. d. Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the weighted-average inventory costing method. Round weighted average unit cost to the nearest cent and total cost to the nearest dollar. 5. Wise Books has the following trantactions in August tolated to merchandse inventory. (1) (Cilok the icon ta view the transactions) Read the sold during the moner: August3:August15.August25:6bookscosting$20each5bookscosting$20eachand7bookscosting$22each2bookscosting$22eachand5bookscosting$28aach b. Dotormine the cost of goods sold and ending merchandse inventory by preparicg a perpehal inventory recoed usng we rifo imveriory cosing method. fotal cost to the nearest dolac)

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