Use the following information to answer Excercises E6-16 through E6-18 Golf Unlimited carries an inventory of putters and other golf clubs. The sales price of cach putter is $1 19. Company records indicate the following for a particular line of Golf Unlimited's putters: Unit Cost Quantity Date Item S 53 24 Nov. 1 Balance 6 Sale 20 70 8 Purchase 30 17 Sale 30 30 Sale 2 E6-16 Measuring and journalizing merchandise inventory and cost of goods sold-FIFO Learning Objective 2 1. COGS $3,232 Requirements 1. Prepare a perpetual inventory record for the putters assuming Golf Unlimited uses the FIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month. 332 2. Journalize Golf Unlimited's inventory transactions using the FIFO inventory cost- ing method. (Assume purchases and sales are made on account) E6-17 Measuring ending inventory and cost of goods sold in a perpetual inventory system-LIFO Learning Objective 2 1. Ending Merch. Inv. $106 Requirements 1. Prepare Golf Unlimited'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. 2 2. Journalize Golf Unlimiteds inventory transactions using the LIFO inventory cost- ing method. (Assume purchases and sales are made on account.) E6-18 Measuring ending inventory and cost of goods sold in a perpetual inventory system-Weighted-average Learning Objective 2 1. COGS $3,236 Requirements 1. Prepare Golf Unlimited's perpetual inventory record for the putters assuming Golf Unlimited uses the weighted-average inventory costing method. Round weighted- average cost per unit to the nearest cent and all other amounts to the nearest dollar," Then identify the cost of ending inventory and cost of goods sold for the month. 2. Journalize Golf Unlimited's inventory transactions using the weighted-average inventory costing method. (Assume purchases and sales are made on account.)