AZ Cycles started May with 5 bicycles that cost $48 each On May 16, AZ bought 30 biycles at $55 each. On May 31, AZ sold 15 bicycles for $96 each Requirements 1. Prepare AZ Cycle's perpetual inventory record assuming the company uses the weighted-average inventory costing method e the May 16 purchase of merchandise inventory on account and the May 31 sale of merchandise inventory on account. Start by entering the beginning inventory 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) balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. AZ Cycles Purchases Cost of Goods Sold Inventory on Hand QTY?Unit Cost!Tot. Cost | |Unit Cost |Tot. Cost | Date May 1 May 16 May 31 Totals QTY QTY |Unit Cost |Tot. Cost Choose from any list or enter any number in the input fields and then continue to the next question 0416 18 ? Chapter 11 Exercises . Unlimited Attempts e to search