How should the July $5$ transaction be recorded? $(2$ marks$)$

A$.$ increase Purchases, increase Accounts Payable

B$.$ increase Inventory, increase Cost of Goods Sold

C$.$ increase Inventory, increase Accounts Payable

D$.$ increase Purchases, decrease Cash

E$.$ increase Purchases, increase Cost of Goods Sold

F$.$ increase Inventory, decrease Cash

Enter the letter that corresponds to your choice. $($A B C D E F$)$

$---$

How will the July $7$ purchase return be recorded? $(2$ marks$)$

A$.$ decrease Purchases, decrease Accounts Payable

B$.$ decrease Inventory, decrease Accounts Payable

C$.$ increase Purchase Returns, decrease Accounts Payable

D$.$ decrease Purchases, increase Cash

E$.$ decrease Inventory, decrease Cost of Goods Sold

F$.$ increase Purchase Returns, increase Cash

G$.$ decrease Inventory, increase Cash

H$.$ increase Purchase Returns, decrease Cost of Goods Sold

Enter the letter that corresponds to your choice. $($A B C D E F G H$)$

$----$

What is the value of the inventory after the July $7$ transaction?

$----$

How will the July $10$ sale be recorded? $(4$ marks$)$

A$.$ increase Sales, increase Cost of Goods Sold, increase Inventory, increase Accounts Receivable

B$.$ increase Sales, decrease Cost of Goods Sold, increase Inventory, decrease Accounts Receivable

C$.$ decrease Sales, increase Cost of Goods Sold, increase Inventory, decrease Accounts Receivable

D$.$ increase Service Revenue, increase Cost of Goods Sold, decrease Inventory, increase Cash

E$.$ increase Sales, increase Cost of Goods Sold, decrease Inventory, increase Cash

F$.$ increase Sales, decrease Cost of Goods Sold, increase Inventory, decrease Accounts Payable

G$.$ increase Sales, increase Cost of Goods Sold, decrease Inventory, increase Accounts Receivable

H$.$ increase Sales, increase Cost of Goods Sold, increase Inventory, increase Accounts Payable

Enter the letter that corresponds to your choice. $($A B C D E F G H$)$

$-----$

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

What is the value of the inventory after the July $10$ transaction?

What is the gross profit percentage on the July $10$ sale?

What is the amount of gross profit on the July $10$ sale?

What is the value of the inventory after the July $12$ transaction?

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

What is the value of the inventory after the July $17$ transaction?

What is the gross profit percentage on the July $17$ sale?

What is the amount of gross profit on the July $17$ sale?

What is the value of the inventory after the July $24$ transaction?

What is the total revenue for the month?

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

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$)$

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 $$35?$

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