At the beginning of October, Bowser Company's inventory consists of 64 units with a cost per unit of $36. The following transactions occur during the month of October. October 4 Purchase 116 units of inventory on account froe Waluigi Company for $50 per unit, teras 2/10, a/30. October 5 pay cash for freight chargen related to the oetober 4 purchase, $672. Oetober 9 Return 20 defective units from the oetober 4 purchane and receipt of credit. October 12 pay Kaluigi Company in full. October 15 sel1 146 units of inventory to customers on sccount, $11,680. (Nint) The cost of units sold fron the October 4 purchase ineludes $50 unit cost plun $7 per unit for froight losis $1 per unit for the purchase discount, or $56 per unit.) october 19 Receive full payment from eustomers related to the sale on october 15. Oetober 20 purehase 86 units of inventory from Waluigi company for $56 per unit. october 22 sel1 86 units of inventory to eustomors for cash, $6,880. Required: 1. Assuming that Bowser Company uses a FIFO perpetual inventory system to maintain its inventory records, record the transactions. 2. Suppose by the end of October that the remaining inventory is estimated to have a net realizable value per unit of $30. Record any necessary adjusting entry for 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 October after the adjusting entry for lower of cost and net realizable value. Record any necessary adjusting entry for lower of cost and net realizable value. Prepare the top section of the multiple-step income statement through gross profit for the month of October after the adjusting entry for lower of cost and net realizable value