Question: S63 Schwenn Cycles uses the FIFO inventory method. Schwenn started June with five bicycles that cost $190 each. On June 16, Schwenn bought 20 bicycles

  1. S63 Schwenn Cycles uses the FIFO inventory method. Schwenn started June with five bicycles that cost $190 each. On June 16, Schwenn bought 20 bicycles at $200 each. On June 30, Schwenn sold 15 bicycles. Prepare Schwenns perpetual inventory record.

Perpetual inventory recordFIFO

Ending inventory, $2,000

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