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At the beginning of October, Bowser Company's inventory consists of $53$ units with a cost per unit of $$47.$ The following transactions occur during the month of October.

October $4$ Purchase $127$ units of inventory on account from Waluigi Company for $$50$ per unit, terms $2/10,$ n$/30.$

October $5$ Pay cash for freight charges related to the October $4$ purchase, $$585.$

October $9$ Return $10$ defective units from the october $4$ purchase and receipt of credit.

October $12$ Pay Waluigi Company in full.

October $15$ Sell $157$ units of inventory to customers on account, $$12,560.($Hint: The cost of units sold from the October $4$ purchase includes $$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 $15.$

October $20$ Purchase $97$ units of inventory from Waluigi Company for $$67$ per unit.

October $22$ Sell $97$ units of inventory to customers for cash, $$7,760.$

Required:

Assuming that Bowser Company uses a FIFO perpetual inventory system to maintain its inventory records, record the trans$$ctions$.$

Suppose by the end of October that the remaining inventory is estimated to have a net realizable value per unit of $$35.$ Record any necessary adjusting entry for lower of cost and net realizable value.

Prepare the top section of the multiple$-$step income statement through gross profit for the month of October after the adjusting entry for lower of cost and net realizable value.

$$ Prex

$13$ of $17$

Next How do i find the cost of inventory sold? This is what i came up with $((53*47)+(?*54))$ i dont know how to get it$.$

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