ast edit was 2 minutes ago 12 = BIU A 15 - E- 2 3 5 0 4. Determine which method will result in higher profitability when inventory costs are nising Problem Two: JC Bikes has the following transactions during May. May Purchases bikes on account from Bikers R Us Wholesale for $3.300 terms 1/10,n30 2 May Pays cash for freight costs of $200 on bikes purchased from BRU. 3 May 5 Retums bikes with a cost of S400 to BRU because part of the order is incorrect May Pays the full amount due to BRU 10 May Sells all Bikes purchased on May 2 (less those returned on May 5) for $4,000 on 30 account Required: 1. Record the transactions of JC Bikes, assuming the company uses a perpetual inventory system Date Account Debit Credit I oladbolt Dow/edit edit was 2 minutes ago 2 BIVA GS CP M 195.- 2 3 1 WS 6 2. Assume that payment to BRU is made on May 24 instead of May 10. Record this payment. Date Account Debit Credit