Part 1 of 7\ Points:\ Hudson Cycles started May with 15 bicycles that cost

$54

each. On May 16 , Hudson purchased 30 bicycles at

$78

each.\ Requirements\ Prepare Hudson Cycle's perpetual inventory record assuming the company uses the FIFO inventory costing method.\ Journalize the May 16 purchase of me\ e inventory on account and the May 31 sale of merchandise inventory\ Requirement 1. Prepare Hudson Cycle's perpetual inventory record assuming the company uses the FIFO inventory costin\ Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, inventory layers first. Abbreviation used: QTY = Quantity; Tot. = Total)\ Hudson Cycles\ \\\\table[[Date,Purchases,Cost of Goods Sold,Inventory on Hand],[QTY,Unit Cost,Tot. Cost,QTY,Unit Cost,Tot. Cost,QTY,Unit Cost,Tot. Cost,]]

Hudson Cycles started May with 15 bicycles that cost $54 each. On May 16 , Hudson purchased 30 bicycles at $78 each. Requirements 1. Prepare Hudson Cycle's perpetual inventory record assuming the company uses the FIFO inventory costing method 2. Journalize the May 16 purchase of me e inventory on account and the May 31 sale of merchandise inventory Requirement 1. Prepare Hudson Cycle's perpetual inventory record assuming the company uses the FIFO inventory costir Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, inventory layers first. Abbreviation used: QTY = Quantity; Tot. = Total) Hudson Cycles started May with 15 bicycles that cost $54 each. On May 16 , Hudson purchased 30 bicycles at $78 each. Requirements 1. Prepare Hudson Cycle's perpetual inventory record assuming the company uses the FIFO inventory costing method 2. Journalize the May 16 purchase of me e inventory on account and the May 31 sale of merchandise inventory Requirement 1. Prepare Hudson Cycle's perpetual inventory record assuming the company uses the FIFO inventory costir Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, inventory layers first. Abbreviation used: QTY = Quantity; Tot. = Total)