Mountain Cycles started August with $12$ bicycles that cost $$42$ each. On August $16,$ Mountain bought $40$ bicycles at $$68$ each. On August $31,$ Mountain sold $36$ bicycles for $$84."$ equirement $1.$ Prepare Golden Cycle's perpetual inventory record assuming the company uses the FIFO inventory costing method.

tart 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 ave 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. $($Enter the oldest inventory layers first. bbreviation used: QTY $=$ Quantity; Tot. $=$ Total$)$