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Learning Objective 2 E6-16 Measuring and journalizing merchandise inventory and cost of goods soldFIFO 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. 2. Journalize Golf Unlimited's inventory transactions using the FIFO inventory cost- ing method. (Assume purchases and sales are made on account.) Learning Objective 2 E6-16 Measuring and journalizing merchandise inventory and cost of goods soldFIFO 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. 2. Journalize Golf Unlimited's inventory transactions using the FIFO inventory cost- ing method. (Assume purchases and sales are made on account.)