E6-16 (similar to) Question Help Putter's Paradise carries an inventory of putters and other golf clubs. The sales price of each putter is $117. Company records indicate the following for a particular line of Putter's Paradise's putters: (Click the icon to view the records.) Read the requirements. Requirement 1. Prepare a perpetual inventory record for the putters assuming Putter's Paradise uses the FIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) Inventory on Hand Purchases Cost of Goods Sold Unit Date Quantity Cost Total Cost Unit Total Unit Total Quantity Cost Cost Quantity Cost Cost Apr. 1 20 $ 70 $ 1,400 Apr. 6 16 $ 70 $ 1,120 4 $ 70 $ Apr. 8 30 $ 87 $ 2,610 A $ 70 $ 280 280 Data Table 30 $ 87 $ 2,610 Date Apr. 17 $ 26 70 $ 280 87 4 $ 87 $ 348 2,262 Apr. 1 Item Balance Quantity Unit Cost 20 $ 70 1. Apr. 6 Sale 16 Apr. 30 Totals Apr. 8 Purchase 30 87 2. Apr. 17 Sale 30 Apr. 30 Sale 2 Enter any number in the edit fields and then click Check Answer. parts remaining Print Done Clear All Requirements Prepare a perpetual inventory record for the putters assuming Putter's Paradise uses the FIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month. Journalize Putter's Paradise's inventory transactions using the FIFO inventory costing method. (Assume purchases and sales are made on account.) Print Done Check Answer ?