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Golf Haven carries an inventory of putters and other golf clubs. The sales price of each putter is $151. Company records indicate the following for
Golf Haven carries an inventory of putters and other golf clubs. The sales price of each putter is $151. Company records indicate the following for a particular line of Golf Haven's putters: (Click the icon to view the records.) Read the Requirement 1. Prepare a perpetual inventory record for the putters assuming Golf Haven uses the FIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month. the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) Requirements 1. Prepare a perpetual inventory record for the putters assuming Golf Haven uses the FIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month. 2. Joumalize Golf Haven's inventory transactions using the FIFO inventory costing method. (Assume purchases and sales are made on account.)
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