SF6-3 (similar to) Question Help Hudson Cycles started August with 5 bicycles that cost 548 each On August 16, Hudson purchased 30 bicycles at $55 each. On August 31, Hudson sold 18 bicycles for $90 each Requirements Prepare Hudson Cycle's perpetual inventory record assuming the company uses the specific identification inventory costing method. Assume that Hudson sold 3 bicycles that cost $4Beach and 15 bloycles that cost $55 each 2 Journal the August 16 purchase of merchandise inventory on account and the August 31 sale of merchandise inventory on account. 1. Requirement 1. Prepare Hudson Colo's perpetuat inventory record assuming the company uses the specific identification Inventory conting method. Assume that Hudson sold 3 bicycles that cost $48 each and 15 bicycles that of 555 och Start by entering the beginning inventory balances Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once af of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first Abbreviation US QTY - Quantity Tot Total) Hudson Cycles Purchases Date QTY Unit Cost Tot. Cost Aug 1 Aug. 16 2013 55 1650 Cost of Goods Sold QTY Unit Cost Tot Cost QTY Inventory on Hand Unit Cost Tot. Cost 55 48$ 240 515 4s 240 305 55$ 1,650 20) Aug 31 480 48 8 56 440 12 56 560 Enter any number in the edit fields and then click Check Answer CD rining Clear All Check Answer Stv