1. Fill in the blanks (fill in the shaded area). 2. The following is the part of income statement of AAA. Complete the table (Fill in the shaded area). a. Calculate Cost of Goods Sold and Gross Profit for correct entries colume Sheet? A B C D E F G H b. Complete Column A. In this column, suppose that beginning inventory is $40,000, but ending inventory remains the same ($50,000) Compared to Correct Entries, is Cost of Goods sold overstated or understated? Compared to Correct Entries, is Gross Profit overstated or understated? c. Complete Column B. In this column, suppose that beginning inventory is $60,000 but ending inventory remains the same ( $50,000). Compared to Correct Entries, is Cost of Goods sold overstated or understated? Compared to Correct Entries, is Gross Profit overstated or understated? d. Complete Column C. In this column, suppose that ending inventory is $40,000 but beginning inventory remains the same ( $50,000). Compared to Correct Entries, is Cost of Goods sold overstated or understated? Compared to Correct Entries, is Gross Profit overstated or understated? e. Complete Column D. In this column, suppose that ending inventory is $60,000, but beginning inventory remains the same ( $50,000). Compared to Correct Entries, is Cost of Goods sold overstated or understated? Compared to Correct Entries, is Gross Profit overstated or understated? Part II The following table is inventory history of AAA. During March, AAA sold 1,000 units at $20 per unit. What is the Conct of Goods Available for Sale? The following table is inventory history of AAA. During March, AA A sold 1,000 units at $20 per unit. What is the Cost of Goods Available for Sale? What is the amount of the net sale? Complete the following table based on each COGS calculation method For weighted average method, do not round up. Income Tax rate is 30%