Information : 25 Laptop are purchased @ \$200 per laptop. 21 Laptop were sold @ 290 per laptop You need to solve the following question based on the information given above. You need to prepare in excel and bring laptop in the class. 1. Journal Entries (follow perpetual inventory system) 2. Find COGS Cost of goods sold) 3. find Closing Stock 4. find Gross Profit 5. Calculate Gross profit ratio 6. Prepare Inventory Account - MI Merchandise Inventory 7. Calculate Net Profit. 8. Calculate closing cash balance ( cash at the end of perio Prepare cash ledger Account) Note : opening cash balance is $10000 Rent of building is paid by cash $300 (prepare journal) Salary is given to employees by cash $400 (prepare jour Refer to these video's and solve the above question. VL23 - Merchandise (Inventory System )- Part 1 VL24 - Merchandise (Inventory System )- Part 2