Help - E-16

er 6 Use the following information to answer Exercises E6-16 through E6-18 Golf Unlimited carries an inventory of putters and other golf clubs. The sales of each putter is $119. Company records indicate the following for a particular line Golf Unlimited's putters: Unit Cost $ 53 Quantity 24 20 30 30 Date Item Balance Sale Purchase Sale Sale Nov. 1 70 17 30 ng Objective 2 E6-16 Measuring and journalizing merchandise inventory and cost of goods sold-FIFO 1. COGS $3,232 Requirements 1. Prepare a perpetual inventory record for the putters assuming Golf Unlimited ue the FIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month 2. Journalize Golf Unlimited's inventory transactions using the FIFO inventory cost ing method. (Assume purchases and sales are made on account.)