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At the beginning of October, Bowser Company's inventory consists of $69$ units with a cost per unit of $$31.$ The following transactions

occur during the month of October.

October $4$ Purchase $111$ units of inventory on account from Waluigi Company for $$50$ per unit, terms $\frac{2}{10},\frac{n}{30}.$

October $5$ Pay cash for freight charges related to the October $4$ purchase, $$430.$

October $9$ Return $25$ defective units from the October $4$ purchase and receive credit.

October $12$ Pay Waluigi Company in full.

October $15$ Sell $141$ units of inventory to customers on account, $$11,280.($Hint: The cost of units sold from the October $4$ purchase

includes $$50$ unit cost plus $$5$ per unit for freight less $$1$ per unit for the purchase discount, or $$54$ per unit.$)$

october $19$ Receive full payment from customers related to the sale on october $15.$

Required:

Assuming Bowser Company uses a FIFO perpetual inventory system to maintain its inventory records, record the transactions.

Complete this question by entering your answers in the tabs below.

Assuming Bowser Company uses a FIFO perpetual inventory system to maintain its inventory records, record the transactions.

Note: If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.

Journal entry worksheet

Record return $25$ defective units from the October $4$ purchase and receive

credit.

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