15. A company reported the current month purchase and sales data for its only product and uses the perpetual inventory system and allocates costs using the FIFO method. All purchases and sales are made "on credit" with the company's vendors and customers. Date Units Sold at Sales Price Units Acquired at Cost 175 units @ $ 15.00 150 units @ $ 16.00 160 units @ $ 30.00 April 1 April 4 April 7 April 10 April 16 April 25 April 28 Activities Beginning Inventory Purchase Sale Purchase Sale Purchase Sale 200 units @ $ 17.00 250 units @ $ 30.00 160 units @ $ 18.00 150 units @ $ 32.00 Using the attached T-account template (or prepare an "equation" presentation): a) document the beginning inventory balance, labeling it BAL" and b) prepare the entries to recognize the purchases and sales of inventory c) document the ending balance in the T-accounts (or in the proper column, if using the "equation" presentation) in the following accounts: Accounts Receivable Inventory Accounts Payable Sales Cost of Goods Sold (COGS) 16. Briefly describe why separation of recordkeeping from the custody of assets is a critical component of internal controls for a business. Include in your discussion the mitigation of the risk of theft or waste. 17. Describe 3 strategies that a company could engage in to manage the company's cash