Instructions: Please show your work and circle your answers - either by hand (with pen/paper) then scan or take a photo of it to submit or and you can use a program like Excel or Word. If you show your work, I can give you partial credit for incorrect answers. Since question 1 and 2 are progressive, if you get 2a wrong, then 2b, c, d, e, and f will be wrong. That's why it's imperative for you to show your work. If you do, you will get partial credit for all parts. This is an individual assignment. Please submit your work using Assignments on Canvas. Be sure to include your name, course name and number, and date on the top of your work. This assignment counts for 50 points (or 5% of your overall course grade.) Late assignments will not be accepted. Once the assignment closes, 1 will post the answer key for you to review and study for exam # 2, which will contain a few questions similar to questions # 1 and # 2 below. If you have any questions, please send me a message on Canvas. Question # 1: A retailer has yearly sales of $650,000. Inventory on January 1 is $260,000 (at cost). During the year, $500,000 of merchandise (at cost) is purchased. The ending inventory is $265,000 (at cost). Operating costs are $90,000. a. Calculate the cost of goods sold b. Calculate the net profit Question # 2: A retailer has a beginning monthly inventory valued at $60,000 at retail and $35,000 at cost. Net purchases during the month are $40,000 at cost and $170,000 at retail. Transportation charges are $7,000. Sales are $150,000. Markdowns and discounts equal $20,000. A physical inventory at the end of the month shows merchandise valued at $10,000 (at retail) on hand. Compute the following: a. Total merchandise available for sale - at cost and at retail b. Cost complement c. Ending retail book value of inventory . d. Stock shortages Markdowns and discounts equal $20,000. A physical inventory at the end of the month shows merchandise valued at $10,000 (at retail) on hand. Compute the following: a. Total merchandise available for sale - at cost and at retail b. Cost complement c. Ending retail book value of inventory d. Stock shortages e. Adjusted ending retail book value f. Gross profit Question # 3: A car dealer purchased multiple -disc CD players for $1195 each and desires a 40% markup (at retail). What retail price should be charged