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please explain number C part Citerion Cycles uses the moving-weighted-average-cost method. Citerion started May with five bicycles that cost $330 each. On May 16, Citerion

please explain number C part

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Citerion Cycles uses the moving-weighted-average-cost method. Citerion started May with five bicycles that cost $330 each. On May 16, Citerion bought 20 bicycles at $260 each. On May 31, Citerion sold 15 bicycles. Use the above data to journalize: a. The May 16 purchase of inventory on account. b. The May 31 sale of inventory on account. Citerion sold each bicycle for $300. c. Cost of goods sold under the moving-weighted-average-cost method. Record transaction (b), the May 31 sale of inventory on account. Citerion sold each bicycle for $300. Begin by recording the sale transaction only. Journal Entry Date Accounts Debit Credit May 31 Accounts Receivable 4,500 Sales Revenue 4,500 Finally, record transaction (c), the cost of goods sold from the sale on May 31. Use the moving-weighted-average method. (Round average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Journal Entry Date Accounts Debit Credit May 31 Choose from any list or enter any number in the input fields and then click Check Answer. ? All parts showing Clear All Check

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