Boston Cycles storied August with 5 bicycles that cost $48 each. On August 16. Boston bought 30 bicycles at $53 each. On August 31. Boston sold 19 bicycles tor $97 each. Prepare Boston Cycle's perpetual inventory record assuming me company uses the specific identification inventory casting method. Assume that Boston sold 3 bicycles that cost $48 each and 16 bicycles mat cost $55 each. Journalize the August 16 purchase of merchandise inventory on account and the August 31 sale of merchandise inventory on account. Prepare Boston Cycle's perpetual inventory record assuming the company uses the specific identification inventory costing method. Assume that Boston sold 3 bicycles that cost $48 each and 16 bicycles that cost $55 each. Start by entering the beginning inventory balances. Enter the transactions in chronological order calculating new inventory on hard balances earn 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 me end of the period. (Enter the oldest inventory layers first. Abbreviation used: QTY = Quantity; Tot. = Total)