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LITE JUUNITY MIUI ROLIUTI Cuires luwe YUESTIVIIS Ursprayeu veru. At the beginning of October. Bowser Co.'s Inventory consists of 55 units with a cost per
LITE JUUNITY MIUI ROLIUTI Cuires luwe YUESTIVIIS Ursprayeu veru. At the beginning of October. Bowser Co.'s Inventory consists of 55 units with a cost per unit of $45. The following transactions occur during the month of October October 4 Purchase 125 units of inventory on account from Waluigi Co. for $58 per unit, terms 2/10, n/30. October 5 Pay cash for freight charges related to the October 4 purchase, $77e. October 9 Return 15 defective units from the October 4 purchase and receive credit. October 12 Pay Waluigi Co. in full. October 15 Sell 155 units of inventory to customers on account, $12,489. (Hint: The cost of units sold from the October 4 purchase includes $50 unit cost plus $7 per unit for freight less $1 per unit for the purchase discount, or $56 per unit.) October 19 Receive full payment from customers related to the sale on October 15. October 20 Purchase 95 units of inventory from Waluigi Co. for $65 per unit, terns 3/10, n/30. October 22 Sell 95 units of inventory to customers for cash, $7,600. (Note: For calculating the cost of inventory sold, ignore the possible purchase discount on October 20.) Required: 1. Assuming that Bowser Co. uses a FIFO perpetual inventory system to maintain its Inventory records, record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction lit Journal entry worksheet
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