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the large bicycles) using the FIFO costing method to keep track of the number of bicycles purchased, bicycles sold, bicycles on hand, cost of goods
the large bicycles) using the FIFO costing method to keep track of the number of bicycles purchased, bicycles sold, bicycles on hand, cost of goods sold and gross profit made. ii) Prepare journal entries (including any adjusting entries) for all of the business's transactions for June (using the perpetual inventory system and FIFO costing method). Include dates, references and narrations. iii) Prepare T- accounts in an Excel spreadsheet, and post all of the above journal entries to the Taccounts. Include dates and references for each entry. Total all of the T accounts to determine their balances at the end of the June 2019. iv) Prepare the 'Adjusted Trial Balance' in an Excel spreadsheet as at 30th June 2019. Use formulas to generate all of the figures in the 'Adjusted Trial Balance from the balances in the TAccounts. v) The business has a year-end of 30th June. Prepare the closing entries as at 30th June 2019. Please also
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