At the beginning of November, Yoshi Incorporated's inventory consists of 57 units with a cost per unit of $94. The following transactions occur during the month of November. Novenber 2 Purehase 78 units of inveatory on account froe Toad Incorporated for 5100 per unit, terms 3/10, n/30. Hovenber 3 Pay eanh for freight chargen related to the Novenber 2 porchase, $390, Novenber 9 Heturn 13 detective units fron the Novenber 2 purehave and receive oredit. Novenber 112ay rood incorporated in full. Hovenber 165 el1 100 units of Inventery to eustoners on account, 513,700 . (Hint; the cost of unite notd fron the sovenber 2 purehase ineludes $100 unit coat plus $6 per unit for freight leas $3 per unit for the purehase discount, or $103 per unlt. Novenber 20 recelve fall payment fron cuntoners related to the ale on Roverber 16. Noveaber 21 Purchase 67 anith of inventory fron foad Incorporated for s104 per unit, termu 2/10, n/30. Novenber 24 sel1 85 unith of inventory to customern for cash, 58,600 . (Noter tor calculating the cont of inventory sold, ignore the porsible purchase discount on liovenber 20. . Required: 1. Assuming that Yoshi incorporated uses a FIFO perpetual inventory system to maintain its internal inventory records, record the transactions 2. Suppose by the end of November that the remaining inventory is estimated to have a net realizable value per unit of $81, record any necessary adjustment for the lower of cost and net realizable value. 3. Prepare the top section of the multiple-step income statement through gross profit for the month of November after the adjusting entry for lomer of cost and net realizable value. Complete this question by entering your answers in the tabs below. Assuming that Yoshi incorporated uses a FIFO perpetyal inventory system to maiatain its internal inventoey records, record the transoctions, (II mo entry is reguiced for a trancectiondevent, sriect system to maintainits internat inventory Firtancing with requises bortowing, wheress financing with requires lssuing shares of stock. (Enter one word per bianki) At the beginning of November, Yoshi Incorporated's inventory consists of 57 units with a cost per unit of $94. The following transactions occur during the month of November. Novenber 2 Purehase 78 units of inveatory on account froe Toad Incorporated for 5100 per unit, terms 3/10, n/30. Hovenber 3 Pay eanh for freight chargen related to the Novenber 2 porchase, $390, Novenber 9 Heturn 13 detective units fron the Novenber 2 purehave and receive oredit. Novenber 112ay rood incorporated in full. Hovenber 165 el1 100 units of Inventery to eustoners on account, 513,700 . (Hint; the cost of unite notd fron the sovenber 2 purehase ineludes $100 unit coat plus $6 per unit for freight leas $3 per unit for the purehase discount, or $103 per unlt. Novenber 20 recelve fall payment fron cuntoners related to the ale on Roverber 16. Noveaber 21 Purchase 67 anith of inventory fron foad Incorporated for s104 per unit, termu 2/10, n/30. Novenber 24 sel1 85 unith of inventory to customern for cash, 58,600 . (Noter tor calculating the cont of inventory sold, ignore the porsible purchase discount on liovenber 20. . Required: 1. Assuming that Yoshi incorporated uses a FIFO perpetual inventory system to maintain its internal inventory records, record the transactions 2. Suppose by the end of November that the remaining inventory is estimated to have a net realizable value per unit of $81, record any necessary adjustment for the lower of cost and net realizable value. 3. Prepare the top section of the multiple-step income statement through gross profit for the month of November after the adjusting entry for lomer of cost and net realizable value. Complete this question by entering your answers in the tabs below. Assuming that Yoshi incorporated uses a FIFO perpetyal inventory system to maiatain its internal inventoey records, record the transoctions, (II mo entry is reguiced for a trancectiondevent, sriect system to maintainits internat inventory Firtancing with requises bortowing, wheress financing with requires lssuing shares of stock. (Enter one word per bianki)
