i need help!!!! if you can please help explain and help me finish the first requirement! thank you!

Cycle On, Inc. Wholesales a line of custom road bikes Cyde On's inventory as During the month of December 2018, Cycle On, Inc., had the following of November 30, 2018, consisted of 26 mountain bikes costing 51.100 each transactions Cycle On's trial balance as of November 30 appears as follows Click the icon to view the December transactions) Click the icon to view the November 30 trial balance) Read the requirements Requirement 1. Using the transactioni list provided, prepare a perpetual inventory record for Cycle On, Inc., for the month of December Cycle On Inc uses the FIFO inventory costing method (Cycle On records inventory in the perpetual inventory record net of any discounts, as it is company policy to take advantage of all purchase discounts) Start by entering the beginning inventory balances Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Round all currency amounts to the nearest cont, XXX Enter the oldest inventory layers first) Perpetual Inventory Record: FIFO Purchases Cost of goods sold Inventory on hand Unit Total Unit Total Unit Total Date Oty Cost Cost Cost Cost Cost Cost Dec 26 5 1,100.00 $ 28,600.00 Dec 125 77600 $ 9,31200 26 $ 1,100.00 5 28 500.00 125 776 00 59,31200 Dec 1960 27440 12 1100 13200 776 9312 Qty Qty 1 6 14 12 Dec 4 6 8 10 12 14 Purchased 12 bikes for $800 each from The Handle Bar, Co., on account. Terms, 3/15, n/45, FOB destination. Sold 14 bikes for $2,000 each on account to Cyclemart, Inc. Terms, 5/10. n/30, FOB destination Paid $300 freight charges to deliver goods to Cyclemart, Inc. Received $7,700 from Bike Man as payment on a November 17 sale. Terms were n/30 Purchased $400 of supplies on account from Office Express. Terms, 3/10, n/30, FOB destination. Received payment in full from Cyclemart, Inc., for the December 6 sale. Purchased 21 bikes for $900 each from The Handle Bar, Co., on account. Terms, 3/15, n/45, FOB destination. Paid The Handle Bar, Co., the amount due from the December 4 purchase in full Sold 24 bikes for $2,300 each on account to Maritime Cycle, Inc. Terms, 3/15, n/45, FOB shipping point Paid for the supplies purchased on December 12. Paid sales commissions, $1,900. Paid current month's rent, $540. Paid The Handle Bar, Co., the amount due from the December 16 purchase in full 16 18 19 20 22 30 31 Cycle On, Inc. Trial Balance November 30, 2018 Account Debit Credit $ 9,350 12,700 28,600 800 17.100 $ 3,800 Cash Accounts receivable Inventory Supplies Office equipment Accumulated depreciation, office equipment Accounts payable Note payable, long-term Common stock Retained earnings Dividends Sales revenue Cost of goods sold Sales commissions expense Office salaries expense Office rent expense 1,700 2,500 12.000 12,390 5,000 148,000 78,900 11.100 7,600 5,940 3,300 Shipping expense Total $ $ 180 390 $ 180,390 1. Using the transaction list provided, prepare a perpetual inventory record for Cycle On, Inc., for the month of December. Cycle On, Inc., uses the FIFO inventory costing method. (Cycle On records inventory in the perpetual inventory record net of any discounts, as it is company policy to take advantage of all purchase discounts.) 2. Four-column general ledger accounts, along with their balances from the November 30 trial balance as applicable, have been opened for you. Record each transaction in the general journal utilizing the "net" method for purchases and sales. Explanations are not required. Post the journal entries to the general ledger. Omit posting references. Calculate the new account balances. 3. Prepare an unadjusted trial balance as of December 31, 2018. 4. Journalize and post the adjusting journal entries based on the following information: Depreciation expense on office equipment $1,900 Supplies on hand, $230 Accrued salary expense for the office receptionist, $890 Estimated refund liability. $1,300 Cost of estimated inventory returns, $910 5. Prepare an adjusted trial balance as of December 31, 2018. Use the adjusted trial balance to prepare Cycle On, Inc.'s multistep income statement and statement of retained earnings for the year ending December 31, 2018. Also, prepare the balance sheet at December 31, 2018. 6. Journalize and post the closing entries. 7. Prepare a post-closing trial balance at December 31, 2018. Cycle On, Inc. Wholesales a line of custom road bikes Cyde On's inventory as During the month of December 2018, Cycle On, Inc., had the following of November 30, 2018, consisted of 26 mountain bikes costing 51.100 each transactions Cycle On's trial balance as of November 30 appears as follows Click the icon to view the December transactions) Click the icon to view the November 30 trial balance) Read the requirements Requirement 1. Using the transactioni list provided, prepare a perpetual inventory record for Cycle On, Inc., for the month of December Cycle On Inc uses the FIFO inventory costing method (Cycle On records inventory in the perpetual inventory record net of any discounts, as it is company policy to take advantage of all purchase discounts) Start by entering the beginning inventory balances Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Round all currency amounts to the nearest cont, XXX Enter the oldest inventory layers first) Perpetual Inventory Record: FIFO Purchases Cost of goods sold Inventory on hand Unit Total Unit Total Unit Total Date Oty Cost Cost Cost Cost Cost Cost Dec 26 5 1,100.00 $ 28,600.00 Dec 125 77600 $ 9,31200 26 $ 1,100.00 5 28 500.00 125 776 00 59,31200 Dec 1960 27440 12 1100 13200 776 9312 Qty Qty 1 6 14 12 Dec 4 6 8 10 12 14 Purchased 12 bikes for $800 each from The Handle Bar, Co., on account. Terms, 3/15, n/45, FOB destination. Sold 14 bikes for $2,000 each on account to Cyclemart, Inc. Terms, 5/10. n/30, FOB destination Paid $300 freight charges to deliver goods to Cyclemart, Inc. Received $7,700 from Bike Man as payment on a November 17 sale. Terms were n/30 Purchased $400 of supplies on account from Office Express. Terms, 3/10, n/30, FOB destination. Received payment in full from Cyclemart, Inc., for the December 6 sale. Purchased 21 bikes for $900 each from The Handle Bar, Co., on account. Terms, 3/15, n/45, FOB destination. Paid The Handle Bar, Co., the amount due from the December 4 purchase in full Sold 24 bikes for $2,300 each on account to Maritime Cycle, Inc. Terms, 3/15, n/45, FOB shipping point Paid for the supplies purchased on December 12. Paid sales commissions, $1,900. Paid current month's rent, $540. Paid The Handle Bar, Co., the amount due from the December 16 purchase in full 16 18 19 20 22 30 31 Cycle On, Inc. Trial Balance November 30, 2018 Account Debit Credit $ 9,350 12,700 28,600 800 17.100 $ 3,800 Cash Accounts receivable Inventory Supplies Office equipment Accumulated depreciation, office equipment Accounts payable Note payable, long-term Common stock Retained earnings Dividends Sales revenue Cost of goods sold Sales commissions expense Office salaries expense Office rent expense 1,700 2,500 12.000 12,390 5,000 148,000 78,900 11.100 7,600 5,940 3,300 Shipping expense Total $ $ 180 390 $ 180,390 1. Using the transaction list provided, prepare a perpetual inventory record for Cycle On, Inc., for the month of December. Cycle On, Inc., uses the FIFO inventory costing method. (Cycle On records inventory in the perpetual inventory record net of any discounts, as it is company policy to take advantage of all purchase discounts.) 2. Four-column general ledger accounts, along with their balances from the November 30 trial balance as applicable, have been opened for you. Record each transaction in the general journal utilizing the "net" method for purchases and sales. Explanations are not required. Post the journal entries to the general ledger. Omit posting references. Calculate the new account balances. 3. Prepare an unadjusted trial balance as of December 31, 2018. 4. Journalize and post the adjusting journal entries based on the following information: Depreciation expense on office equipment $1,900 Supplies on hand, $230 Accrued salary expense for the office receptionist, $890 Estimated refund liability. $1,300 Cost of estimated inventory returns, $910 5. Prepare an adjusted trial balance as of December 31, 2018. Use the adjusted trial balance to prepare Cycle On, Inc.'s multistep income statement and statement of retained earnings for the year ending December 31, 2018. Also, prepare the balance sheet at December 31, 2018. 6. Journalize and post the closing entries. 7. Prepare a post-closing trial balance at December 31, 2018