Burlington Wholesale Inc. had the following inventory transactions for one month. The company uses a perpetual system and FIFO. All purchases and sales are on account.

		# of	unit cost or
		items	sale price
January 1	Opening balance	40	$20
January 5	Purchase	20	$22
January 7	Purchase of January 5 items returned	-5
January 10	Sale	50	$40
January 12	Purchase	25	$24
January 17	Sale	20	$50
January 24	Purchase	35	$25

Use an inventory cost chart and an accounting chart to analyze the above transactions, and then answer the questions below.

Where you are asked to enter a percentage, you may enter it in any of several ways. For example, 78 percent can be entered as 78%, .78, 0.78, or 78.

Dollar figures should be entered WITHOUT dollar signs, commas, or decimal points.

Question 44 (2 points)

How will the January 5 purchase of inventory be recorded? Select all that apply. (2 marks)

Question 44 options:

a)	increase Cost Of Goods Sold

b)	increase Purchases

c)	decrease Cash

d)	decrease Cost Of Goods Sold

e)	increase Inventory

f)	increase Accounts Payable

Question 45 (2 points)

How will the January 7 purchase return be recorded? Select all that apply. (2 marks)

Question 45 options:

a)	increase Inventory

b)	decrease Purchases

c)	decrease Accounts Payable

d)	decrease Inventory

e)	decrease Cost Of Goods Sold

f)	increase Cost Of Goods Sold

g)	decrease Cash

h)	increase Purchase Returns

Question 46 (1 point)

What is the value of the inventory after the January 7 transaction?

Question 47 (4 points)

How will the January 10 sale be recorded? Select all that apply. (4 marks)

Question 47 options:

a)	increase Cost of Goods Sold

b)	decrease Sales

c)	increase Accounts Receivable

d)	increase Cash

e)	increase Inventory

f)	decrease Cost of Goods Sold

g)	decrease Cash

h)	decrease Accounts Receivable

i)	increase Sales

j)	decrease Inventory

Question 48 (1 point)

What amount of cost of goods sold will be recorded on January 10?

Question 49 (1 point)

What is the value of the inventory after the January 10 transaction?

Question 50 (1 point)

What is the gross profit percentage on the January 10 sale?

Question 51

What is the amount of gross profit on the January 10 sale?

Question 52 (1 point)

What is the value of the inventory after the January 12 transaction?

Question 53 (1 point)

What amount of cost of goods sold will be recorded on January 17?

Question 54 (1 point)

What is the value of the inventory after the January 17 transaction?

Question 55 (1 point)

What is the gross profit percentage on the January 17 sale?

Question 56 (1 point)

What is the amount of gross profit on the January 17 sale?

Question 57 (1 point)

What is the value of the inventory after the January 24 transaction?

Question 58 (1 point)

What is the total revenue for the month?

Question 59 (2 points)

What is the total gross profit for the month? (2 marks)

Question 60 (2 points)

What is the amount of the adjustment that must be made to inventory at the end of the month if the selling price drops to $20?

Start your answer with a + sign if an increase, a - sign if a decrease, or enter 0 if no adjustment is needed. (2 marks)

Question 61 (2 points)

What is the amount of the adjustment that must be made to inventory at the end of the month if the selling price drops to $30?

Start your answer with a + sign if an increase, a - sign if a decrease, or enter 0 if no adjustment is needed. (2 marks)

PLEASE ANSWER ASAPPP!!!!