please solve

Hercula Cycles started July with 15 bicycles that cost 75 each. On July 16, Hercula purchased 25 bicycles at 891 each. On July 31, Hercula sold 23 bicycles for 98 each. Requirements 1. Prepare Hercula Cycle's perpetual inveniory record assuming the company uses the LIFO inventory costing method. 2. Journalize the July 16 purchase of merchandise inventory on account and the July 31 sale of merchandise inventory on account. Requirement 1. Prepare Hercula Cycle's perpetual inventory record assuming the company uses the LIFO inventory costing method. Start by entering the beginning inventory balances. Enter the transactions in chronological order. calculating new inventory on hand balances after each fransaction. Once all of the fransactiens 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. (For cost of goods sold, enter the first layer out under LIFO cosfing first. For inventory on hand, enter the oldest inventory Iayer first. Abbreviation used: QTY = Quantity; Tot. = Total) Hercula Cycles Purchases Cost of Goods Sold Inventory on Hand Date QTY |Unit Cost |Tot. Cost QTY |Unit Cost |Tot. Cost QTY |Unit Cost |Tot. Cost Jul-1 15] & 75(% 1,125 Jul. 16