ve 2 10 cch. 00-3 Preparing a perpetual inventory record and journal entries-Spenis identification Requirements 1. Prepare Boston Cycle's perpetual inventory record assuming the compan the specific identification inventory costing method. Assume that Boston bicycles that cost $42 each and 24 bicycles that cost $68 each. 2. Journalize the October 16 purchase of merchandise inventory on account ar October 31 sale of merchandise inventory on account. the company uses ume that Boston sold 10 SG 4D nl intentory record and iournal entries-FIFO