Homework: Chapter 6 Homework Spring 2020 Save 1 of 10 (1 complete) HW Score: 1.33%, 0.13 of ... Score: 0.13 of 1 pt % S6-3 (book/static) Question Help Boston Cycles started October with 12 bicycles that cost $42 each On October 16, Boston bought 40 bicycles at $68 each On October 31, Boston sold 34 bicycles for $100 each Requirements 1. Prepare Boston Cycle's perpetual inventory record assuming the company uses the specific identification inventory costing method. Assume that Boston sold 10 bicycles that cost $42 each and 24 bicycles that cost $68 each 2. Journalize the October 16 purchase of merchandise inventory on account and the October 31 sale of merchandise inventory on account S uy neng nu begin memory Uncus nere ansactions in Conical Order, Calcung 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. Tot = Total) Boston Cycles Purchases QTY Unit Cost Tot. Cost Cost of Goods Sold QTY Unit Cost Tot Cost Date Oct 1 Oct 16 Inventory on Hand QTY Unit Cost Tot. Cost 12 $ 42 $ 504 21 $ 4215 504 68 $ 2,720 40 $ 68 s 2,720 Oct 31 Enter any number in the edit fields and then click Check Answer. A parts 4 remaining Clear All Check Answer Type here to search