Hello,

Can you help me please as to why numbers are wrong in the cost of good sold. I got the totals right and the unit cost but i don't know why quantity (units are wrong) are wrong and the total cost.

Caldwell Cycles started October with 12 bicycles that cost $41 each. On October 16 , Caldwell purchased, on account, 42 bicycles at $65 each. On October 31 , Caldwell sold 32 bicycles for $90 each. a. Prepare Caldwell Cycles' perpetual inventory record, assuming the company uses the specific identification inventory costing method. Assume that Caldwell sold 10 bicycles that cost $41 each, and 22 bicycles that cost $65 each. b. Journalize the October 16 purchase of inventory and the October 31 sale of inventory. Lastly, enter the inventory on hand on each date into the perpetual inventory record. (Leave unused cells blank. Enter the inventory in the order in which it was acquired.)