Question: Schwenn Cycles uses the FIFO inventory method. Schwenn started June with five bicycles that cost $190 each. On June 16, Schwenn bought 20 bicycles at

Schwenn Cycles uses the FIFO inventory method. Schwenn started June with five bicycles that cost $190 each. On June 16, Schwenn bought 20 bicycles at $200 each. On June 30, Schwenn sold 15 bicycles. Prepare Schwenn's perpetual inventory record.

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