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At the beginning of Nlovember, Yoshi incorporatedis imventory conststs of 56 units wikh a cost per unit of 595 . The following transpctions occur durling

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At the beginning of Nlovember, Yoshi incorporatedis imventory conststs of 56 units wikh a cost per unit of 595 . The following transpctions occur durling the month of Novertiber. Noveniber 11 pay Tond Ineerpornted in fall: Movamber 20 Rnceive full. payment from cuntoenern related to thd inle on. Fovelber 16. Moveber 21 Purehnme 6C unita of inventory from Tond Incorporatad for $105 per. anlt, tarma 1/10, h/30. ignore the poseibin purehine dimeount on Novenber 20.i ). Requlredz 1. Assuming teat Yoshi Incorporated uses a FlFO perpetual Imventory system to maintain lis internal Inventory records, record the transactions. 2. Suppose by the end of November that the remaining imventory is estimated to have a net realizabie value per unit of $80, record any necessary adjustment for the lower of cost and net reallzable value. 3. Prepare the top sectlon of the multiple-step income statement through gross profit for the month of November after the adjusting entry for lower of cost and net reallzable value. Complete this question by entering your answers in the tabs below. Assuming that Yoshi Incorporated uses a. FIFO perpetual inventory system to maintaln its intemal inventory records, record the transactions. (If no entry is requirod for a transaction/event, select "No Journal Entry Requlred" in the first accoune, fleld.)

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