Golf Haven carries an inventory of putters and other golf clubs The sales price of each putter is $122. Company records ir Click the icon to view the records ) Read the requirements. Requirement 1. Prepare Golf Haven's perpetual inventory record for the putters assuming Golf Haven uses the LIFO inver Start by entering the beginning inventory balances Enter the transactions in chronological order, calculating new inventory quantity and total cost of inventory purchased, sold, and on hand at the end of the period (Enter the oldest inventory layers Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Cost Cost Quantity 22 12 60 Sep. 1 Sep. 6 Sep 8 1320 12 60 720 60 720 25 81 2025 2025 25 25 81 81 2025 25 60 25 60 1500 Sep. 17 Sep 30 1500 I 300 60 Totals dentify the cost of ending inventory for the month The cost of ending inventory using the LIFO method is dentify the cost of goods sold for the month The cost of goods sold using the LIFO method is ntory costing method. Then identify the cost of ending inventory and cost of goods sold forth on hand balances after each transaction. Once all of the transactions have been entered in first.) Data table - Date Item Quantity Unit Cost Balance 22 $ 60 Sep. 1 Sep. 6 Sale 12 Purchase 25 81 Sep. 8 Sep. 17 Sep. 30 Sale 25 Sale 5 Print Done Identify the cost of goods sold for the month The cost of goods sold using the LIFO method is Requirement 2. Journalize Golf Haven's inventory transactions using the LIFO inventory costing method. (Ass table.) Begin by recording the entry to record the sale of the putters on account on the 6th. Date Accounts and Explanation Debit Credit Sep 6 Now record the cost of the putters sold on the 6th Date Accounts and Explanation Sep 6 Debit Credit umalize the purchase of the putters on account on the 8th Date Accounts and Explanation Debit Cr Ep. 8 Lornalize the sale of the putters on account on the 17th Date Accounts and Explanation Debit P. 17 Credit Journalize the cost of the putters sold on the 17th Date Accounts and Explanation Debit Credit Sep. 17 Journalize the sale of the putters on account on the 30th Date Accounts and Explanation Debit Sep 30 Credit Journalize the cost of the putters sold on the 30th Date Sep 30 Accounts and Explanation Debit Credit Golf Haven carries an inventory of putters and other golf clubs. The sales price of each putter is $122. Company reco (Click the icon to view the records) Read the requirements Journalize the sale of the putters on account on the 30th Date Accounts and Explanation Debit Credit Sep 30 Joumalize the cost of the putters sold on the 30th. Date Accounts and Explanation Debit Credit Sep 30
