Question: Mountain Cycles uses the moving-weighted-average-cost method. Mountain started July with six bicycles that cost $350 each. On July 16, Mountain bought 24 bicycles at $340

Mountain Cycles uses the moving-weighted-average-cost method. Mountain started July with six

Mountain Cycles uses the moving-weighted-average-cost method. Mountain started July with six bicycles that cost $350 each. On July 16, Mountain bought 24 bicycles at $340 each. On July 31, Mountain sold 18 bicycles. Use the above data to journalize: a. The July 16 purchase of inventory on account. b. The July 31 sale of inventory on account. Mountain sold each bicycle for $380. C. Cost of goods sold under the moving-weighted-average-cost method

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