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5. Golf Unlimited carries an inventory of putters and other golf clubs. The sales price of each putter is $119. Company records indicate the following
5. Golf Unlimited carries an inventory of putters and other golf clubs. The sales price of each putter is $119. Company records indicate the following for a particular line of Golf Unlimited's putters: Date Item Nov. 1 Balance Purchase Sale Quantity Unit Cost 24 S53 30 70 20 Journalize Golf Unlimited's inventory transactions using the FIFO inventory costing method. (Assume purchases and sales are made on account.) Debit Credit Account Date 6. Use the information from question 5. Now journalize Golf Unlimited's inventory transactions using the LIFO inventory costing method. (Assume purchases and sales are made on account.) Date Account Debit Credit
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