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Flamboro Wholesale Inc. had the following inventory transactions for one month. The company uses a perpetual system and FIFO. All purchases and sales are on account $18 # of unit cost or items sale price August 1 Opening 60 balance August 5 Purchase 40 $20 Purchase August 7 of August 5 items returned -5 75 August 10 Sale $40 25 $24 August 12 Purchase August 17 Sale August 24 Purchase 20 $50 35 $25 Use an inventory cost chart and an accounting chart to analyze the above transactions, and then answer the questions below. Where you are asked to enter a percentage, you may enter it in any of several ways. For example, 78 percent can be entered as 78%, 78, 0.78, or 78. Dollar figures should be entered WITHOUT dollar signs, commas, or decimal points. Question 47 (1 point) What is the total revenue for the month? A Question 48 (2 points) What is the total gross profit for the month? (2 marks) AY Question 49 (2 points) 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 O if no adjustment is needed. (2 marks) Question 50 (2 points) 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 $30? Start your answer with a + sign if an increase, a - sign if a decrease, or enter O if no adjustment is needed. (2 marks)