=(7) This question: point(s) possible Submit quiz er 6 H Shepherd Cycles started August with 15 bicycles that cost $75 each. On August 16, Shepherd purchased 25 bicycles at $91 each. On August 31, Shepherd sold 20 bicycles for $99 each. Requirements 1. er 6Q 2 Prepare Shepherd Cycle's perpetual inventory record assuming the company uses the specific identification inventory costing method. Assume that Shepherd sold 10 bicycles that cost $75 each and 10 bicycles that cost $91 each. Joumalize the August 16 purchase of merchandise inventory on account and the August 31 sale of merchandise inventory on account. r8 H estions estions Requirement 1. Prepare Shepherd Cycle's perpetual inventory record assuming the company uses the specific identification inventory costing method. Assume that Shepherd sold 10 bicycles that cost $75 each and 10 bicycles that cost $91 each. +8Q 19H Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first. Abbreviation used: QTY Quantity, Tot. Total) Inventory on Hand Shepherd Cycles Purchases Date QTY Unit Cost Tot. Cost Cost of Goods Sold QTY Unit Cost Tot. Cost QTY Unit Cost Tot. Cost r9Q Aug. 1 Aug. 16 Test nts (0 Next stions D