puttens: Golfer's Favorite 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 Golfer's Favorite's (Click the icon to view the records) Read the requirements. Requirement 1. Prepare a perpetual inventory record for the putters assuming Golfer's Favorite uses the FIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month. Start by entering the beginning inventory balances. Enter the transactions in clyonological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into 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) Cost of Goods Sold Inventory on Hand Unit Cost Date Sep. 1 Sep. 6 San all Quantity Purchases Unit Cost Total Cost Unit Quantity Cost Total Cost Quantity Choose from any list or enter any number in the input fields and then continue to the next Total Cost Golfer's Favorite carries an inventory of putters and other golf clubs. The sales price of each putter is $122. Company records indicate the followin putters: (Click the icon to view the records.) Read the requirements. Date Quantity Sep. 1 Sep. 6 Sep. 8 Sep. 17 Sep. 30 Totals Unit Cost Total Unit Cost Quantity Cost Total Unit Cost Quantity Cost Choose from any list or enter any number in the input fields and then continue to the next question. Total Cost Totals Identify the cost of ending inventory for the month. The cost of ending inventory using the FIFO method is $ Identify the cost of goods sold for the month. The cost of goods sold using the FIFO method is $ Requirement 2. Journalize Golfer's Favorite's inventory transactions using the FIFO inventory costing method. (Assume purchases a credits. Select the explanation on the last line of the journal entry table.) Begin by recording the entry to record the sale of the putters on account on the 6th. nahit Credit Accounts and Fynlanation Choose from any list or enter any number in the input fields and then continue to the next question. Date and other golf clubs. The sales price of each putter is $122. Company records indicate the following fom y record for the p ances. Enter the t calculate the qua 1 t Cost Quantity F5 Data Table Date Sep. 1 6 8 17 30 Item Balance Sale Purchase Sale Sale Print er in the input fields and then continue to the next question. MacBook Air 44 Quantity 20 16 30 30 2 F7 Done F8 $ 70 $ -X Unit Cost 87 - F9 ethod. Then identify balances after each nd of the period. (En F10 ntory of putters and other golf clubs. The sales price of each putter is $122. Company records indicate the following for a cords.) ory for the month. ng the FIFO meth the month. FIFO method is er's Favorite's inve the last line of th cord the sale of t Accounts and i Requirements 1. Prepare a perpetual inventory record for the putters assuming Golfer's Favorite uses the FIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month. 2. Journalize Golfer's Favorite's inventory transactions using the FIFO inventory costing method. (Assume purchases and sales are made on account.) Print Done - X y number in the input fields and then continue to the next question. re made