NRV is 33 per unit

At the beginning of October, Bowser Co.'s inventory consists of 61 units with a cost per unit of $39. The following transactions occur during the month of October October 4 Purchase 119 units of inventory on account from Waluigi Co. for $50 per unit, terma 2/10, n/30. October 5 Pay cash for freight charges related to the October 4 purchase, $728. October 9 Return 15 defective units from the October 4 purchase and receive credit. October 12 Pay Waluigi Co. in full. October 15 Sell 149 units of inventory to customers on account, $11,920. (Hint: The cost of units sold from the October 4 purchase includes $50 unit cont plus $7 per unit for freight 1o$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 89 units of inventory from Waluigi Co. for $59 per unit, terms 3/10, 1/30. October 22 sell #9 units of inventory to customers for cash, $7,120. (Notel Yor calculating the cost of inventory sold, ignore the possible purchase discount on October 20.) 3. Prepare the top section of the multiple-step income statement through gross profit for the month of October after the adjustment for lower of cost and net realizable value BOWSER CO. Multiple-step Income Statement (partial) For the month of October Net Sales $ Cost of Goods Sold 19.040 Gross Profit