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New Tech Cycles started October with 15 bicycles that cont $54 each. On October 16, New Tech purchased 30 bloycles at $78 each on October 31, Now Tech sold 26 bicycles for $106 each Requirements 1. Prepare New Tech Cycle's perpetunt inventory record assuming the company uses the weighted-werage inventory conting method Joumalize the October 16 purchase of merchandise inventory on account and the October 31 sale of merchandise inventory on account 2 Requirement 1. Prepare New Tech Cycle's perpetunt inventory record assuming the company uses the weighted average inventory costing method Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balonces 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. (Abbreviation used: QTY = Quantity: Tot. Total) New Tech Cycles Purchases Cost of Goods Sold Inventory on Hand QTY Unit Cost Tot. Cost QTY Unit Cost Tot. Cost QTY Unit Cost Tot. Cost Oct. 1 Date Clear All Check Answer Help Me Solve This e Text Pages Get More Help MacBook Air