Hamilton 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 30 $15 March 1 Opening balance March 5 Purchase 25 $19 -5 Purchase March 7 of March 5 items returned March 10 Sale 40 $40 March 12 Purchase 20 $22 March 17 Sale 15 $50 March 24 Purchase 25 $24 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 16 (2 points) What is the total gross profit for the month? (2 marks) A/ Question 17 (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 $15? Start your answer with a + sign if an increase, a - sign if a decrease, or enter O if no adjustment is needed. (2 marks) A Question 18 (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 $25? Start your answer with a + sign if an increase, a - sign if a decrease, or enter O if no adjustment is needed. (2 marks)