Mountain Cycles started March with 25 bicycles that cost 565 each. On March 16, Mountain bought so bicycles at $80 each. On March 31 , Mountain sold 44 bicycles for $98 each. Requirements 1. Prepase Mourtain Cycle's perpetual inventory record assuming the compacy uses the spocile identifasion inventary costing method. Assume that Mountain sold 20 bicycles that cost 365 each and 24 bicycles that cost sao each. 2. Joumalize the March 16 purchase of merchandive inveritery on account and the March 31 sale of merchundise inventory an account. cou 565 each and 24 bicycies that cost $60 each. March 16 Phechased matchansise imentorv or aceount March 16: Purchased merchandise inventory on account. Warth 31 : Sale of meichandse merocry on ancount. licicles for 390 sach Requirements each and 24 bicycles that tost 300 each. 2. Joumalize tha March is purchase of merchandise inventory on sccount and the Mlach 31 sale of merchandise inventery on account. biogcles for $96 esch) Now journalin sie krpense roleted to the Uarch 31 sale Reven the perpetial inventory intard you prepared in Requiemerd 3