Az Cydes started Maywith 5 bicycles that cost 548 each On May 16, AZ bought 30 bicydes at $55 each. On May 31, A2 sold 13 bicycles for $95 each. Requirements 1. Prepare Az Cycle's perpetua inventory record assuming the company uses the specific identification Inventory costing method. Assume that AZ sold 3 bicycles that cost $46 each and 10 bicycles that cost $55 each 2. Journalire the May 16 purchase of merchandise Inventory on account and the May 31 sale of merchandise inventory on account Requirement 1. Prepare Az Cycle's perpetual inventory record assuming the company uses the specific identification Inventory costing method. Assume that AZ sold 3 boycles that cost 548 each and 10 bicycles that cost $55 each 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: TotTotal) Purchases QTY Unit Cost Tot. Cost Cost of Goods Sold QTY Unit Cost Tot. Cost Inventory on Hand QTY Unit Cost Tot. Cost Date May 1