Ace Company began April with $1,000 of inventory, consisting of 100 units at $10 each. The following additional transactions occurred during the month April 5, purchased 150 units at $11 each April 9, sold 200 units for $15 each April 17, purchased 125 units at $12 each April 26, sold 75 units for $16 each Assuming use of perpetual FIFO, using the pick lists accessible from within each boxed area, complete each journal entry by selecting the correct journal entry descriptions and amounts. Correct selections will turn the bosed areas green. Also note that the impact of the various journal entries are summarized in the calculations found below the last journal entry. Date 5-Apr Inventory PERPETUAL FIFO Accounts Debit Credit Accounts Payable 5-Apr Accounts Receivable Sales 5-Apr Cost of Goods Sold Inventory 17-Apr Inventory Accounts Payable 26-Apr Accounts Receivable Sales 26-Apr Cost of Goods Sold Inventory INVENTORY Beginning Inventory April 5 entry April 9 entry 1,000.00 April 17 entry April 26 entry Ending Inventory 1,000.00 SALES April 9 entry April 26 entry COST OF GOOD SOLD April 9 entry April 26 entry Gross profit Question 1 To record inventory purchase (150 units $11) on April 5th O Inventory Accounts Payable O Inventory Accounts Payable Accounts Receivable 1.650 Sales O Accounts Payable Inventory 2 pts 1.500 1.500 1.650 1,650 1.650 1.650 1,650 D Question 2 What is the Gross Profit after the following transaction? 2 pts Ace Company began April with $1,000 of inventory, consisting of 100 units at $10 each. The following additional transactions occurred during the month: April 5, purchased 150 units at $11 each April 9, sold 200 units for $15 each April 17, purchased 125 units at $12 each April 26, sold 75 units for $16 each Assuming the use of perpetual FIFO O $1,250.00 O $1,200,00 O $2,950.00 O $4,200,00 Question 3 2 pts What is the Net Income after the following transactions if the coating expens ane total $680 and the income tax is $1207 Ace Company began Ape with $1,000 of entry, omisting of 100 $10 nach The following additional transaction occurrit during the month Apr 5 purchased 150 units at $11 each Ape 9, sold 200 uests for $15 each April 17, purchased 125 units at $12 each April 26, sold 75 unit for $16 each Auming the use of perpetual FIFO $450.00 O 1550.00 05420.00 O $570 D Question 4 2 pts What is the Ending Inventory balance after the following transaction? Ace Company began April with $1,000 of inventory, consisting of 100 units at $10 each The following additional transactions occurred during the month April 5, purchased 150 units at $11 each April 9, sold 200 units for $15 each April 17, purchased 125 units at $12 each April 26, sold 75 units for $16 each Assuming the use of perpetual FIFO O $1.250.00 O $2.100.00 O $2.050.00 O $1,200.00 Question 5 2 pts What is the Cost of Good Sold balance after the following transaction? Ace Company began April with $1,000 of inventory, consisting of 100 units at $10 each. The following additional transactions occurred during the month: April 5, purchased 150 units at $11 each April 9, sold 200 units for $15 each April 17, purchased 125 units at $12 each April 26, sold 75 units for $16 each Assuming the use of perpetual FIFO O $2,950.00 O $2,590.00 O $1,200.00 O $4,200.00