Data table Date Item Quantity Unit Cost Jun. 1 Balance 22 $ 60 Jun. 6 Sale 12 Jun. 8 Purchase 25 81 Jun. 17 Sale 25 Jun. 30 Sale 4 Requirement 1. Prepare a perpetual inventory record for the putters assuming Golf Haven uses the FIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) Purchases Cost of Goods Sold Unit Total Unit Total Inventory on Hand Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Jun. 1 22 $ 60 $ 1,320 Jun. 6 12 $ 60 $ 720 10 $ 60 $ 600 Jun. 8 25 81 $ 2,025 10 $ 60 $ 600 25 81 $ 2,025 Jun. 17 10 60 $ 600 10 $ 81 $ 810 15 81 1,215 Jun. 30 Totals 25 4 $ 81 $ 324 6 $ 81 $ 486 2,025 2,859 486 41 6 Identify the cost of ending inventory for the month. The cost of ending inventory using the FIFO method is Identify the cost of goods sold for the month. $ 486 The cost of goods sold using the FIFO method is $ 2,859 Requirement 2. Journalize Golf Haven's inventory transactions using the FIFO inventory costing method. (Assume purchases and sales are made on account.) (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by recording the entry to record the sale of the putters on account on the 6th. Date Jun. 6 Accounts and Explanation Debit Credit