Boston Cycles started January with 15 bicycles that cost $54 each. On January 16, Boston purchased 30 bicycles at $78 each. On January 31, Boston sold 28 bicycles for $100 each. Requirements 1. Prepare Boston Cycle's perpetual inventory record assuming the company uses the weighted average inventory costing method. 2. Journalize the January 16 purchase of merchandise inventory on account and the January 31 sale of merchandise inventory on account Requirement 1. Prepare Boston Cycle's perpetual 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 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. (Abbreviation used: QTY = Quantity: Tot = Total) Boston Cycles Enter any number in the edit fields and then click Check Answer ? 6 parts Clear All Check Answer remaining Question Help Boston Cycles started January with 15 bicycles that cost $54 each. On January 16, Boston purchased 30 bicycles at $78 each. On January 31, Boston sold 28 bicycles for $100 each Requirements 1. Prepare Boston Cycle's perpetual inventory record assuming the company uses the weighted-average inventory costing method. 2. Journalize the January 16 purchase of merchandise inventory on account and the January 31 sale of merchandise inventory on account. WWWY W WW VE WEWE UWV 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) Boston Cycles Purchases Cost of Goods Sold Inventory on Hand QTY Unit Cost Tot. Cost Date QTY Unit Cost Tot. Cost QTY Unit Cost Tot. Cost Jan. 1 Enter any number in the edit fields and then click Check Answer 6 parts Clear All Check Answer remaining