15 Required information Part 2 of 3 (The following information applies to the questions displayed below.) 0.67 points Skipped At the beginning of October, Bowser Co.'s inventory consists of 65 units with a cost per unit of $35. The following transactions occur during the month of October October 4 Purchase 115 units of inventory on account from Waluigi Co. for $50 per unit, terms 2/10, n/30. October 5 Pay cash for freight charges related to the October 4 purchase, $570. October 9 Return 20 defective units from the October 4 purchase and receive credit. October 12 Pay Waluigi Co. in full. October 15 Sell 145 units of inventory to customers on account, $11,600. (Hint: The cost of units sold from the October 4 purchase includes $50 unit cost plus $6 per unit for freight less $1 per unit for the purchase discount, or $55 per unit.] October 19 Receive full payment from customers related to the sale on October 15. October 20 Purchase 85 units of inventory from Waluigi Co. for $55 per unit, terms 1/10, n/30. October 22 Sell 85 units of inventory to customers for cash, $6,800. (Note: For calculating the cost of inventory sold, ignore the possible purchase discount on October 20.) eBook Print References 2. Suppose by the end of October that the remaining inventory is estimated to have a net realizable value per unit of $30. Record any necessary adjustment for lower of cost and net realizable value. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Required information f3 3 Journal entry worksheet 1 Record the adjustment of inventory to net realizable value. ed Note: Enter debits before credits. k General Journal Debit Credit Date October 31 ces Record entry Clear entry View general journal