Required information Problem 6-6B Record transactions using a perpetual system, prepare a partial income statement, and adjust for the lower of cost and net realizable value(LO6-2, 6-3, 6-4, 6-5, 6-6) [The following information applies to the questions displayed below] At the beginning of November, Yoshi Inc.'s inventory consists of 62 units with a cost per unit of $95. The following transactions occur during the month of November. November 2 Purchase 90 units of inventory on account from Toad Inc. for $100 per unit, terms 2/10, n/30. November 3 Pay cash for freight charges related to the November 2 purchase, $180. November 9 Return 30 defective units from the November 2 purchase and receive credit. November 11 Pay Toad Inc. in full. November 16 Sell 100 units of inventory to customers on account, $12,600. [Hint: The cost of units sold from the November 2 purchase includes $100 unit cost plus $3 per unit for freight less $2 per unit for the purchase. discount, or $101 per unit.] November 20 Receive full payment from customers related to the sale on November 16. November 21 Purchase 58 units of inventory from Toad Inc. for $105 per unit, terms 1/10, n/30. November 24 Sell 70 units of inventory to customers for cash, $7,900. (Note: For calculating the cost of inventory sold, ignore the possible purchase discount on November 20.) Problem 6-6B Part 1 Required: 1. Assuming that Yoshi Inc. uses a FIFO perpetual inventory system to maintain its Internal inventory records, record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)