At the beginning of October, Bowser Company's inventory consists of 58 units with a cost per unit of $42. The following transactions occur during the month of October. October 4 Purchase 122 units of inventory on account from Waluigi Coopany for $50 per unit, terns 2/10,n/30. october 5 Pay cash for freight charges related to the 0ctober 4 purchase, $749. October 9 Return 15 defective units fron the october 4 purchase and receipt of credit. October 12 Pay Waluigi Company in full. October 15 Sell 152 units of inventory to custoners on account, $12,160. (Hint: The cost of units sold fron the october 4 purchase includes $50 unit cost plus $7 per unit for freight less $1 per unit for the purchase discount, or $56 per unit.) October 19 Receive full paynent from customers related to the sate on october 15. october 20 Purchase 92 units of inventory fron Watuigi Conpany for $62 per unit. october 22 Sell 92 units of inventory to custoners for cash, $7,360. 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 hove a net reslizable value per unit of $35. 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. Complete this question by entering your answers in the tabs below. Assuming that Bowser Company uses a FIFO perpetual inventory system to maintain its inventory records, record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)