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Required information Problem 6-68 Record transactions using a perpetual system, prepare a partial income statement, and adjust for the lower of cost and net realizable

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Required information Problem 6-68 Record transactions using a perpetual system, prepare a partial income statement, and adjust for the lower of cost and net realizable value(LO6-2, 6-3, 6-4, 6-5, 6-6) [The following information applies to the questions displayed below] At the beginning of November, Yoshi Inc's imventory consists of 64 units with a cost per unit of \$96. The following transactions occur during the month of November. Nowntipr 2 Puretinse 89 units of Inventory on account froe Toad the. for $100 per undt, terms 1/16, n/30. Hovenber 3 Pay cash for freicht charses related to' the Novenber 2 purchase; 5320. Novenber 9 Return 16 isfective units from the Novenber 2 purchase and receive credit. Novenber 2 purchace includes $100 unit cost plus $5 per unit for freight lass $1 per unit for the purchase diticount, on $104 per unit. 1 Hovmber 20 . Heceive full payment fros custoeners related to the sale on November 16. sold, ignere the possible porchase discount on thoveaber 20. ) 3. Prepare the top section of the multiplestep income statement through gross protit for the month of Newember after the adjustrnent for lower of cost and net realizable value

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