lle OWner, Lee Gentry, had a capital balance of $12,900. During April, for personal use. $3,000 cash for had Instructions (a) Prepare closing entries at April 30 Question # 2: marks, each2n Ord Company uses a perpetual inventory system. During May, the following transaction occurred. May 13 Sold 6 motors at a cost of $44 each to Waller Brothers Supply Company, n/30. The motors cost Ord $25 each. May 16 One defective motor was returned to Ord May 23 Received payment in full from Waller Brothers. May 24 Purchased 2 Tiers at cost of 100S each, payment term 2/10, m 30 Instructions Journalize the May transactions for Ord Company (seller) assuming that Ord uses ap inventory system. You may omit explanations Question # 3: (8 marks, each 2 marks Morton Company uses the periodic inventory method and had the following inventory infon available UnitsUnit CostTotal Cost S5 $8 S 400 2,000 1,400 1/ Beginning Inventory100 1/20 Purchase 7/25 Purchase 400 200 6.200 10/20 Purchase A physical count of inventory on December 31 revealed that there were 400 units on hand Instruction: inventory and cost of goods sold by using FFIFO and LIFO Compute the Ending