At the beginning of October. Bowser Company's inventory consists of 69 units with a cost per unit of $31. The following transactions occur during the month of October October 4 Purchase 111 units of Inventory on account fron Waluigl Company for $50 per unit, terms 2/10,n/30. October 5 pay cash for freight charges related to the october 4 purchase, $430. october 9: ieture 25 defective units from the actober s porehose and receipt of eredit. october 12 Pay Waluigl Conpony in full. October 15 sell 141 units of inventory to custoners on account, $11,289. (Awintz The cost of units sold from the October 4 purchase includes $50 unit cost plus $5 per unit for frelutht less $1 per unit for the purchase discount, or $54 per unit.) October 19 Recelve full paynent from custoners related to the sale on october 15. October zapurchace 81 unite of imentory froa Halofal company for $51 per init. October 22.5011 an units of inventory to custoeers for cash, 56,400 . 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 $27. 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 volue. Complete this question by entering your answers in the tabs below. 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. Suppose by the end of October that the remaining inventory is estimated to have a net realizable value per unit of $27. Reco necessary adjusting entry for lower of cost and net realizable value. (If no entry is required for a transaction/event, select " N Entry Required" in the first account field.) Journal entry worksheet Record any necessary adjusting entry for lower of cost and net realizable value. Note: Enter debits belore credits. Assuming that Bowser Company uses a FIFO perpetual inventory system to maintain its inventory records, record the t entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record purchase of 111 units of inventory on account from Waluigi company for $50 per unit, terms 2/10,n/30. Note: Enter debits before credits