3. Measuring and Journalizing merchandise inventory and cost of goods sold-FIFO Golf Unlimited caries an inventory of putters and other golf clubs. The sale price of each putter is $119. The company records indicate the following for a particular line of Gulf Unlimited putters. Date Item Quantity Unit Cost Nov. 1 balance 24 $53 Nov.6 Sale 20 Nov.8 Purchase 30 $70 Nov.17 Sale 32 Requirements: Prepare a perpetual inventory record for the putters assuming Golf Unlimited uses the FIFO inventory costing method. Identify for the month of November: a. Ending Inventory b. Sales Revenue c. Cost of goods sold d. Gross Profit/Margin