Gary Golf Shop, Inc.comenta la at tanium puttern, Garys Golf Shop, Inc, utes the LIFO method and a perpetunt Inventory system. The sales prion of each patera 5184. Company recorde indicatiu de following activity for putters for the month of July Click the icon to view the recons) Read the recoments Requirement 1. Prepare a perpetual inventory record for the pulers on the LIFO basis to determine the cost of ending inventory and cost of goods sold for the mont Start by entering the beginning inventory balance. Enter the transactions in chronological order, calculating new inventory on hand dance sher eachtraction. Once art of the transactions are fronterede the perpetrecord, cicate the quantity and total cost of inventory purchased toid, and on hand the end of the pened for cont of goodsid, enter the first layer ook under LIFO contingfot. For inventory on hand, or softest inventory layer first) Purchases Cost of goods sold Inventory on hand Unit Total Unit Total Unit Total Date Qty Cost Cost Gly Cout City Cost Cost J LIFO Cost - X Data Table Date Item Quantity Unit Cost Jul 1 Balance 9 $ 90 7 Purchase 20 $ 93 11 Sale 22 19 Purchase 17 $ 97 28 Sale 10 Print Done - Requirements 1. Prepare a perpetual inventory record for the putters on the LIFO basis to determine the cost of ending inventory and cost of goods sold for the month 2. Journalize the inventory transactions for Gary's Golf Shop, Inc., using the perpetual LIFO method. Assume all purchases and sales are on account. Print Done