HW SUIC: 54.170, 62.48 of 97 pls % SF6-6 (similar to) Assigned Media Question Help New Tech Cycles started January with 12 bicycles that cost $42 ench. On January 16, New Tech purchased 40 bicycles at 868 each. On January 31, New Techsold 36 bicycles for $90 each Requirements 1. Prepare New Tech Cycle's perpetual inventory record assuming the company uses the weighted average Inventory costing method. 2. Joumalize the January 16 purchase of merchandise inventory on account and the January 31 sale of merchandise inventory on account Requirement 1. Prepare New Tech Cycle's perpetual inventory record assuming the company uses the weighted-average inventory conting method Start by entering the beginning inventory balancos. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all 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. (Abbreviation used: QTY Quantity: Tot = Total) Cost of Goods Sold QTY Unit Cost Tot. Cost New Tech Cycles Purchases Date QTY Unit Cost Tot. Cost Jan. 1 Jan 16 405 68 $ 2.720 Jan 31 Inventory on Hand QTY Unit Cost Tot. Cost 12 $ 4215 5215 623 3.224 SO 36 90 3240 Enter any number in the edit fields and then click Check Answer parts remaining Clear All Check Answer MacBook 1 * 3 $ 4 % 5 & 7 8 6 2 CV 9 W E R T Y U P AS D F G . J K