use specific identification method

preparing a perpetual inventory record and journal entries- specific identification method

Requirements Prepare Montana Cycle's perpetual inventory record assuming the company uses the specific identification Inventory costing methoc Assume that Montana sold 20 bicycles that cost $36 each and 13 bicycles that cost $60 2. Journalize the July 16 purchase of merchandise inventory on account and the July 31 sale of merchandise inventory on account.