Required Information [The following information applies to the questions displayed below.] At the beginning of October, Bowser Co.'s inventory consists of 50 units with a cost per unit of $50. The following transactions occur during the month of October. October 4 Purchase 130 units of inventory on account from Waluigi Co. for $50 per unit, terms 2/10, n/30. October 5 Pay cash for freight charges related to the October 4 purchase, $600. October 9 Return 10 defective units from the October 4 purchase and receive credit. October 12 Pay Waluigi Co. in full. October 15 Sell 160 units of inventory to customers on account, $12,800. (Hint: The cost of units sold from the October 4 purchase includes $50 unit cost plus $5 per unit for freight less $1 per unit for the purchase discount, or $54 per unit.) October 19 Receive full payment from customers related to the sale on October 15. October 20 Purchase 100 units of inventory from Waluigi Co. for $70 per unit, terms 2/10, n/30. October 22 Sell 100 units of inventory to customers for cash, $8,000. (Note: For calculating the cost of inventory sold, ignore the possible purchase discount on October 20.)