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Golf Unlimited carries an inventory of putters and other golf clubs. The sales price of each putter is $122. Company records indicate the following for
Golf Unlimited carries an inventory of putters and other golf clubs. The sales price of each putter is $122. Company records indicate the following for a particular line of Golf Unlimited's putters: (Click the icon to view the records.) Read the 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.) Requirements 1. Prepare a perpetual inventory record for the putters assuming Golf Unlimited uses the FIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month. 2. Journalize Golf Unlimited's inventory transactions using the FIFO inventory costing method. (Assume purchases and sales are made on account.) Data table
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