Required information Problem 6-6A Record transactions using a perpetual system, prepare a partial income statement, and adjust for the lower of cost and net realizable value (L06-2, 6-3, 6-4, 6-5, 6-6) The following information applies to the questions displayed below) At the beginning of October, Bowser Co's inventory consists of 61 units with a cost per unit of $39. The following transactions occur during the month of October October 4 Purchase 119 units of inventory on account from Waluigi Co. for $50 per unit, terms 2/10, 1/30. October 5 Pay cash for freight charges related to the October 4 purchase, $728. October 9 Return 15 defective units from the October 4 purchase and receive credit. October 12 Pay Waluigi Co. in full. October 15 Se 149 units of Inventory to customers on account, $11,920. (Hint: The cost of units sold from the October 4 purchase includes $50 unit cost plus $7 per unit for freight loss $1 per unit for the purchase discount, or $56 per unit. October 19 Receive full payment from customers related to the sale on October 15 October 20 Purchase 89 units of Inventory from Waluigi Co. for $59 per unit, terms 3/10, 1/30. October 22 Sell 89 units of inventory to customers for cash, $7,120. (Note: For calculating the cost of inventory sold, ignore the possible purchase discount on October 20.) Required: 1. Assuming that Bowser Co. uses a FIFO perpetual inventory system to maintain its inventory records, record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 Record purchase of 119 units of inventory on account from Waluigi Co. for $50 per unit, terms 2/10, n/30 Note: Enter debits before credits Date General Journal Debit Credit October 04 Journal entry worksheet 10 Record payment of cash for freight charges related to the October 4 purchase, $728. Note: Enter debits before credits. General Journal Debit Credit Date October 05 Journal entry worksheet Record return of 15 defective units from the October 4 purchase and receive credit. Note: Enter debits before credits. General Journal Debit Credit Date October 09 Record entry Clear entry View general journal Journal entry worksheet To Record payment to Waluigi Co. in full. Note: Enter debits before credits. Date General Journal Debit Credit October 12 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 Record the sale of 149 units of inventory to customers on account, $11.920. Note: Enter debits before credits. Date General Journal Debit Credit October 15 Record entry Clear entry View general journal Journal entry worksheet Record receipt of full payment from customers related to the sale on October 15. w N Note: Enter debits before credits. Date General Journal Debit Credit October 19 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 > Record purchase of 89 units of inventory from Waluigi Coc for $59 per unit, terms 3/10, n/30. h Note: Enter debits before credits. General Journal Debit Credit Date October 20 Record entry Clear entry View general journal Journal entry worksheet