Question: Find the answer for the last one % Starter 6-6 (similar to) Schwenn Cycles uses the moving-weighted average-cost method. Schwenn started January with five bicycles

Find the answer for the last one % Starter 6-6 (similar to)Find the answer for the last one

% Starter 6-6 (similar to) Schwenn Cycles uses the moving-weighted average-cost method. Schwenn started January with five bicycles that cost $350 each. On January 16, Schwenn bought 20 bicycles at $220 each. On January 31, Schwenn sold 15 bicycles. Use the above data to journalize: a. The January 16 purchase of inventory on account. b. The January 31 sale of inventory on account. Schwenn sold each bicycle for $280. C. Cost of goods sold under the moving-weighted average-cost method. TUCCOTU uransacuum (a), uc Vanuary to purchasc un Cory on account. Accoru uc IS THIS PICI LICUIS. LACIUUC caprun LIONS om joumor CC.) Journal Entry Date Accounts Debit Credit Jan. 4,400 16 Inventory Accounts Payable 4,400 Record transaction (b), the January 31 sale of inventory on account. Schwenn sold each bicycle for $280. Begin by recording the sale transaction only. Journal Entry Date Accounts Debit Credit Jan. 4,200 31 | Accounts Receivable Sales Revenue 4,200 Finally, record transaction (C), the cost of goods sold from the sale on January 31. Use the moving-weighted average method. (Round average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Journal Entry Date Accounts Debit Credit Jan. 31 || Cost of Goods Sold Inventory

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