NEVIZ Stationery & Supplies located in Spanish Town, Jamaica, sells a variety of school supplies including several brands of calculators. The business began the first quarter (January to March) of 2018 with 20 (Casio fr-85MS) calculators at a total cost of $124,800. During the quarter, the company completed the following transactions relating to the "Casio ft-85MS calculators 105 calculators were purchased at a cost of $6,140 each. In addition, the business paid ta freight charge of $310 cash on each calculator to have the inventory shipped from the point of purchase to their warehouse January & The sales for January were 85 calculators which yielded total sales revenue of $809,030 (25 of these units were sold on account to longstanding customers) January 31 February 4 A new batch of 7o calculators was purchased at a total cost of $486,500 February 10 6 of the instruments purchased on February 4 were returned to the supplier, as they were not of the model ordered February 28 During the month 62 calculators were sold at a price of $10,050 each. A customer, to whom 9 calculators were sold during the first business day of February returned 2 of the instruments, as they were of another brand Owing to an increased demand, a further 118 calculators were purchased at a cost of $7,800 each, these were subject to a trade discount of 2% each. 124 calculators were sold during March at a unit selling price of $11,060 Iarch 4 March 10 March 31 An actual count of inventory was carried out which revealed that there were 35 units of that brand of merchandise in the store room March 31 Unless otherwise stated, assume that all purchases were on account and received on the dates stated Required: (A) Prepare a perpetual inventory record for this merchandise, using the first in, first out (FIFO) method of inventory valuation to determine the company's cost of goods sold for the quarter and the value of ending (22 marks) (B) Given that selling, distribution and administrative costs associated with the Casio fx-85MS brand of calculators for the quarter were $34,840, $42,100 and $173,760 respectively, prepare an income statement for NEVIZ Stationery& Supplies (Casio fi-85MS) for the quarter ended March 31, 2018 (6 marks) (C) Journalize the transactions for the month of January, assuming the company uses a: Periodic inventory system Perpetual inventory system (8 marks)