New Tech Cycles started March with 15 bicycles that cost $54 each. On March 16, New Tech purchased 30 bicycles at $78 each. On March 31, New Tech sold 25 bicycles for $99 each. Requirements 1. Prepare New Tech Cycle's perpetual inventory record assuming the company uses the FIFO inventory costing method. 2. Journalize the March 16 purchase of merchandise inventory on account and the March 31 sale of merchandise inventory on account. Date Mar. 1 Mar. 16 Mar. 31 ges QTY Unit Cost Tot. Cost 30 $ Get more help - 78 $ 2,340 QTY 20 2 ... Unit Cost Tot. Cost 99 2475 QTY Clear all Unit Cost Tot. Cost 54 $ 54 $ 78 $ 15 S 15 S 30 $ 810 810 2,340 Check answer

Please explain in detail how do you get the nunber

New Tech Cycles started March with 15 bicycles that cost $54 each. On March 16 , New Tech purchased 30 bicycles at $78 each. On March 31, New Tech sold 25 bicycles for $99 each. Requirements 1. Prepare New Tech Cycle's perpetual inventory record assuming the company uses the FIFO inventory costing method. 2. Journalize the March 16 purchase of merchandise inventory on account and the March 31 sale of merchandise inventory on account. Get more help