Kutsu Inc. is a Japanese merchandise firm located in Saltama. Exhibit 1 contains the ending balance of selected Kutsu Inc.'s accounts for the year 2017. Exhibit 1 end of year Accounts Receivable Inventory Sales COGS 2017 JPY 60,000 JPY 5,000 JPY 270,000 JPY 183,600 The firm uses the perpetual Inventory method. All sales returns from customers result in the goods being returned to Inventory; the Inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. Exhibit 2 contains Information for Kutsu Inc. for 2018. Exhibit 2 Date Description Quantity Unit Cost or Selling Price January 1 Beginning Inventory 1,000 JPY 200 Jul 20 Purchase 1,400 JPY 230 Nov 5 Sale 1,100 JPY 320 Exhibit 3 contains Information for the industry where Kutsu Inc. operates. Exhibit 3 Current ratio Accounts receivable turnover Average collection period Inventory turnover Days In Inventory Industry Average 1.55 9.44 38.67 5.94 61.45 Debt to assets ratio Times Interest earned ROE ROA 60.33% 3.82 17.65% 4.28% a) Journalize the 2018 transactions under the FIFO cost flow method! (3 points) b) Journalize the 2018 transactions under the LIFO cost flow method! (3 points) c) Evaluate (with calculations) Kutsu Inc.'s selected financial analysis for 2018! Explain the main Issues in your anal (4 points)