At the beginning of October, Bowser Company's inventory consists of 66 units with a cost per unit of $34. The following transactions occur during the month of October. october 4 Purchose 114 units of inventory on account fron valuigi coepany for $50 per unit, terns 2/19,n/30. october 5 Pay cash for freight charges related to the october 4 purchase, 5445. october 9 peturn 25 defective units fron the october 4 purchase and receipt of credit. october 12 Poy waluigi company in ful1. october 155el1144 units of inventory to custoners on account, s11,520. (hint; The cost of units sold fron the october 4 purchase includes 550 unit cost plus $5 per unit for frelght less $1 per unit for the purchase discount, or $54 per unit.) october 19 receive full paysent fron custoners related to the sale on october 15. october 20 eurcbase 84 units of inventory fron valuide coopany for 554 per unit. october 225sell84 units of inventory to custoners for cash, $6,720. Required: 1. Assuming that Bowser Comparyy uses a FIFO perpetual inventofy 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 realizoble value per unit of $29. 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. Assumng that Bowser Company uses a Fifo perpetual inventory system to maintain its inventory records, record the transactions. (It no ontry is requited Jae a transaction event, aeliect veto lournal Entry fequired in the first account field.) Journal entry worksheet Thesid purchas of 114 units of inventory on account from Waluigi conpany