Required information Problem 6-6A 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 October, Bowser Co's inventory consists of 53 units with a cost per unit of $47The following transactions occur during the month of October October 4 Purchase 127 units of inventory on account from Waluigi Co. for $eperit, 3/10, October 5 Pay cash for freight changes related to the October 4 purchase, 558. October 9 Reture 10 defective units from the October 4 purchase and receive credit. October 12 Pay Waluigi Co. in full. October 15 Sell 157 units of Inventory to customers on account, $12,500. The cost of its old from the October 4 purchase includes $50 unit cost plus $per unit for freight loss 51 per unit for the case discount or 554 per unit. October 19 Meceive full payment from customers related to the sale on October 15. October 20 Purchase 97 units of inventory from Wallel Co. for 567 per unit, te 2/10, w October 22 Sell 97 units of inventory to custo for cash, 57,760. Notes For calculating the cast of try set ignore the possible purchave discount on October 20.) ok rences Problem 6-6A Part 2 2. Suppose by the end of October that the remaining inventory is estimated to have a ne realizable value per unit of $35. Recordar necessary adjustment for lower of cost and not realizable value of no entry is required for a transaction/event, select "No Joure Entry Required" in the first account field) here to search O ly do 00 96 5 & 7 3 4 6 o 8 9 TERITY U Required information Problem 6-6A 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 October, Bowser Co's inventory consists of 53 units with a cost per unit of $47The following transactions occur during the month of October October 4 Purchase 127 units of inventory on account from Waluigi Co. for $eperit, 3/10, October 5 Pay cash for freight changes related to the October 4 purchase, 558. October 9 Reture 10 defective units from the October 4 purchase and receive credit. October 12 Pay Waluigi Co. in full. October 15 Sell 157 units of Inventory to customers on account, $12,500. The cost of its old from the October 4 purchase includes $50 unit cost plus $per unit for freight loss 51 per unit for the case discount or 554 per unit. October 19 Meceive full payment from customers related to the sale on October 15. October 20 Purchase 97 units of inventory from Wallel Co. for 567 per unit, te 2/10, w October 22 Sell 97 units of inventory to custo for cash, 57,760. Notes For calculating the cast of try set ignore the possible purchave discount on October 20.) ok rences Problem 6-6A Part 2 2. Suppose by the end of October that the remaining inventory is estimated to have a ne realizable value per unit of $35. Recordar necessary adjustment for lower of cost and not realizable value of no entry is required for a transaction/event, select "No Joure Entry Required" in the first account field) here to search O ly do 00 96 5 & 7 3 4 6 o 8 9 TERITY U
