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please fill out journal entry sheet At the beginning of October, Bowser Co,'s inventory consists of 55 units with a cost per unit of $45.
please fill out journal entry sheet 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 $50 per unit, terms 2/16, n/36. October 5 Pay cash for freight charges related to the October 4 purchase, $770. October 9 Return 15 defective units from the October 4 purchase and receive credit. October 12 Pay Watuigi Co. in full. October 15 Sell 155 units of inventory to custoners on account, $12,400. [Hint: The cost of units sold from the 0ctober 4 purchase includes $50 unit cost plus $7 per unit for freight less $1 per unit far the purchase discount, or $56 per unit.] October 19 Receive full payment from customers related to the sale on october 15. 0ctober 20 Purchase 95 units of inventory from Waluig1 Co. for $65 per unit, terms 3/10,n/30. October 22 Setl 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.)
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