On 1 July 20x2 (the first day of the financial year), Large Mart decides to start selling electric bicycles (e-bikes). Initially, Large Mart places an order for 8 e-bikes (for $800 per e-bike), and the first e-bikes arrive at Large Mart on 5 July 20x2. Following an advertising campaign, the e-bikes become a big seller and Large Mart makes the following sales and purchase transactions during the year ended 30 June 20x3:

Sale (10 August 20x2) of 7 e-bikes for a price of $2,500 per e-bike

Purchase (1 September 20x2) of 10 e-bikes for $700 per e-bike

Sale (5 September 20x2) of 4 e-bikes for $2,000 per e-bike

Sale (12 November 20x2) of 3 e-bikes for $1,900 per e-bike

Large Mart accounts for its inventory using the first-in-first-out cost flow assumption and the perpetual inventory system.

Required:

A) Calculate the cost of all e-bikes sold during the year ended 30 June 20x3, AND outline

all necessary calculations. (2 marks)

B) Calculate the value of all e-bikes that remain in the inventory account on 30 June 20x3,

AND outline all necessary calculations. (2 marks)

C) Calculate the amount of sales revenue that the e-bikes have generated for Large Mart

during the year ended 30 June 20x3, AND outline all necessary calculations. (2 marks)