omework Saved 0 Required information The following information applies to the questions displayed below On October 29, 2017, Lobo Co. began operations by purchasing razors for resale. Lobo uses the perpe method, The returned, the per new razor is $20 and its retail selling price is $75 in both 2017 and 2018. The manufacturer has advised the company to expect warranty costs to equal 8% of dollar sales. The following transactions and events occurred 2017 Now. 11 Sold 105 Eapors for $7,075 essh. nonworking razor. When a razor is t and mails a new one from Merchandise Inventory to the customer The company's cost varranty expense related to Novenber sales vith an adjusting entry Dec. 9 Replaced 15 ranors that vere returned under the varranty 16 Sold 220 razore fer $16,500 cash 29 Replaced 30 razors that vere returned under the varranty 1 Recognied varranty expense related to December sale 2018 Jan. 5 seld 150 rators for $11,250 cash 17 Replaced 50 razors that vere roturned 31 Recogaized varranty expense related to January sales with an adjosting estry under the varranty 2. How much warranty expense is reported for November 2017 and for December 20172 Warranty expense for November 2017 Warranty expense for December 2017 Pre 2 3 4 5 of Next >