Check my work Required information The following information applies to the questions displayed below.) At the beginning of October, Bowser Co.'s inventory consists of 63 units with a cost per unit of $37. The following transactions occur during the month of October October 4 Purchase 117 units of inventory on account from Waluigi Co. for $50 per unit, terms 2/10, 1/30. October 5 Pay cash for freight charges related to the October 4 purchase, $485. October 9 Return 20 defective units from the October 4 purchase and receive credit. October 12 Pay Waluigi Co. in full. October 15 Sell 147 units of inventory to customers on account, $11,760. (Hint: The cost of units sold from the October 4 purchase includes $50 unit cost plus $5 per unit for freight less si per unit for the purchase discount, or $54 per unit. October 19 Receive full payment from customers related to the sale on October 15. October 20 Purchase 87 units of inventory from Waluigi Co. for $57 per unit, terns 2/10, 1/30. October 22 Sell 87 units of inventory to customers for cash, 56,960. (Note: For calculating the cost of inventory sold, ignore the possible purchase discount on October 20.) 2. Suppose by the end of October that the remaining inventory is estimated to have a net realizable value per unit of $31. Record any necessary adjustment for lower of cost and net realizable value. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the adjustment of inventory to net realizable value. Note: Enter debits before credits. Debit Credit Date General Journal October 31 Cost of Goods Sold Inventory Record entry Clear entry View general journal