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Cortland Cycles started October with 13 bicycles that cost $42 each. On...

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Accounting

Cortland Cycles started October with 13 bicycles that cost $42 each. On October 16, Cortland purchased, on account, 38 bicycles at $67 each. On
October 31, Cortland sold 32 bicycles for $90 each.
a. Prepare Cortland Cycles' perpetual inventory record, assuming the company uses the specific identification inventory costing method. Assume
that Cortland sold 11 bicycles that cost $42 each, and 21 bicycles that cost $67 each.
b. Journalize the October 16 purchase of inventory and the October 31 sale of inventory.
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