Putter€™s Choice carries an inventory of putters and other golf clubs. The sales price of each putter is $119. Company records indicate the following for a particular line of Putters Choice putters:

Requirements
1. Prepare a perpetual inventory record for the putters assuming Putter€™s Choice uses the FIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month.
2. Journalize Putter€™s Choice€™s inventory transactions using the FIFO inventory costing method.

Transcribed Image Text:

Date Item Quantity Unit Cost Nov. 1 Balance 60 6 Sale 8 Purchase 17 Sale 30 Sale 12 81 25 2