Mountain Cycles started October with bicycles that cost eachOn October 16, Mountain purchased 30 bicycles at $55 each October 31 Mountain sold 29 bicycles for $105 each. 

 Prepare Mountain Cycle's perpetual inventory record assuming the company uses the FIFO inventory costing method. Journalize the October 16 purchase of merchandise inventory on the account and the October 31 sale of merchandise inventory on the account. 

calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period.