At the beginning of November, Yoshi Inc.'s inventory consists of 70 units with a cost per unit of $96. The following transactions occur during the month of November. November 2 Purchase 72 units of inventory on account from Toad Inc. for $100 per unit, terns 1/10, n/30. November 3 Pay cash for freight charges related to the Novenber 2 purchase, $360. November 9 Return 12 defective units fron the November 2 purchase and receive credit. November 11 Pay Toad Inc. in full. November 16 Sell 100 units of inventory to customers on account, $12,000. [Hint: The cost of units sold from the November 2 purchase includes $100 unit cost plus $6 per unit for freight less $1 per unit for the purchase discount, or $105 per unit.] November 20 Receive full payment from customers related to the sale on November 16. November 21 Purchase 50 units of inventory from Toad Inc. for $106 per unit, terms 3/10, n/30. November 24 Sell 60 units of inventory to customers for cash, $7,100. (Note: For calculating the cost of Inventory sold, ignore the possible purchase discount on November 20.) of 3 Required: 1. Assuming that Yoshi Inc. uses a FIFO perpetual inventory system to maintain its internal inventory records, record the (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No Date 1 November 02 Inventory Accounts Payable 2 November 03 Inventory Cash 3 November 09 Accounts Payable Inventory 4 November 11 Accounts Payable Inventory Cash Answer is not complete. General Journal S Debit Credit 7,200 7,200 360 360 1,200 1,200 6,000 5,640 360 Problem 6-6B Part 2 2. Suppose by the end of November that the remaining inventory is estimated to have a net realizable value per unit of $82, record any necessary adjustment for the 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.) View transaction list Journal entry worksheet < Record the adjustment of inventory to net realizable value. Note: Enter debits before credits Date November 30 General Journal Debit Credit < Prev 12 13. of 16 Next > ed ok Problem 6-6B Part 3 3. Prepare the top section of the multiple-step income statement through gross profit for the month of November after the adjustment for lower of cost and net realizable value. YOSHI INC. Multiple-step Income Statement (partial) For the month of November nces