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Steel Mill began August with 75 units of iron inventory that cost $20 each. During August, the company completed the following inventory transactions (Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. i Data Table the Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand bal perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. Purchases Unit Cost Unit Cost Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Inventory on Hand Unit Total Quantity Cost Cost Unit Sales Price $ 59 Quantity Date Aug. 1 Units 65 70 60 25 $ Aug. 3 Sale 8 Purchase 21 Sale 30 Purchase 28 75 45 Print Done Enter any number in the edit fields and then click Check Answer. Activate Windows Go to Setting to activate Wig Check Answer 7 parts remaining Clear All