At the beginning of October, Bowser Company's inventory consists of 61 units with a cost per unit of $39. The following transactions occur during the month of October. October 4 Purchase 119 units of inventory on account from Waluigi Company for $50 per unit, terms 2/10, n/30. October 5 Pay cash for freight charges related to the October 4 purchase, $728. October 9 Return 15 defective units from the October 4 purchase and receipt of credit. October 12 Pay Waluigi Company in full. October 15Sell149 units of inventory to customers on account, $11,920. (Hint: The cost of units sold from 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 payment from customers related to the sale on October 15. October 20 Purchase 89 units of inventory from Waluigi Company for $59 per unit. October 22Sell89 units of inventory to customers for cash, \$7, 120 . 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 $33. 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