(a) Fill in the third column of the above chart by identifying whether each cost item should be initially recorded as an asset or as an expense. (b) Fill in the fourth column of the chart by recognizing, if each item is considered to be inventoriable (product) cost or not. Beginning and ending balances for several accounts for Danika's Danishes are as follows. Prepare a schedule of COGM and COGS in good form. Utilize relevant information as needed. Given the costs you just calculated and recognizing that the company typically sets its selling prices at 140% of its product costs, what level of sales would Frank have expected? What gross margin percentage would this generate? (Round gross margin percentage to 1 decimal place, e.g. 15.2\%.) Expected sales revenue Gross margin percentage %