Exercise 9-05 Presented below is information related to Bramble Enterprises, Jan. 31 $17,100 16,530 Inventory at cost Inventory at LCNRV Purchases for the month Sales for the month Feb. 28 $17,214 14,364 19,380 33,060 Mar. 31 $19,300 17,784 27,360 39,900 Apr. 30 $15,960 15,162 30,210 45,600 Your answer is partially correct. Try again. From the information, prepare (as far as the data permit) monthly income statements in columnar form for February, March, and April. The inventory is to be shown in the statement at cost; the gain or loss due to market fluctuations is to be shown separately (using a valuation account). (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) February March April T Sales Revenue T 33060 39900 45600 Cost of Goods Sold Inventory, Beginning 17214 T 19380 Purchases 1 17100 19380 36480) 30210 27360 44574 Cost of Goods Available 49590 Inventory, Ending Cost of Goods Sold Gross Profit Gain (loss) due to Market Fluctuations of Inventory : Prepare the journal entry required to establish the valuation account at January 31 and entries to adjust it monthly thereafter. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit . .... . . b u t ILI....@adian Onan ... Taula