Golf Haven carries an inventory of putters and other golf clubs. Golf Haven uses a perpetual inventory system. The sales price of each putter is $$128.$ Company records indicate the following for a particular line of Golf Haven$$s putters:

Date Item Quantity Unit Cost

Nov $01$ Balance $17$ $$68$

Nov $06$ Sale $7$

Nov $08$ Purchase $20$ $$74$

Nov $17$ Sale $20$

Nov $30$ Sale $4$

Assume that Golf Haven uses the average$-$cost method.

Requirements

$1.$ Prepare Golf Haven$$s perpetual inventory record for the putters on the average$-$ cost basis. Round average cost per unit to the nearest cent and all other amounts to the nearest dollar. Then identify the cost of ending inventory and cost of goods sold for the month.

$2.$ Journalize Golf Haven$$s inventory transactions using the perpetual average$-$ cost method.