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Please answer all parts! is indicate the following for a particular line of Golf Unlimited's putters: Golf Unlimited carries an inventory of putters and other
Please answer all parts!
is indicate the following for a particular line of Golf Unlimited's putters: Golf Unlimited carries an inventory of putters and other golf clubs. The sales price of each putter (Click the icon to view the records.) Read the requirements. Requirement 1. Prepare Golf Unilirrited's perpetual inventory record for the putters assuming Golf Unlimited uses the LIFO 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 chronological 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.) Purchases Inventory on Hand - X Cost of Goods Sold Unit Total Data Table Total Unit Total Unit Cost Date Quantity Cost Quantity Buantity Cost Cost Quantity Cost Cost Nov. 1 Item Date Nov. 1 Quantity Unit Cost 24 S 53 Balance Nov 6 Sale 20 Requirements Nov. 8 Purchase 30 70 Nov. 17 Sale 30 Nov. 30 Sale 2 1. Prepare Golf Unlimited's perpetual inventory record for the puttors assuming Golf Unlimited uses the LIFO 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 LIFO inventory costing method. (Assume purchases and sales are made on account.) Point Print Done Print DoneStep by Step Solution
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