Pick a drop down option from each cell, and enter figures in spaces provided. 12 Cindy started selling artisanal candles from a local artist in her gift shop. She will use the periodic inventory system, as she clearly does not record her entries on timely basis. She knows she purchased the following items throughout the year: 13 Record the journal entry to show Cindy's total purchase of inventory. Assume she made all of these purchases on account, but her employee never recorded the purchases throughout the year. 14 Cindy took a physical inventory count on 12/31/2023 and knows she still has 45 candles still on hand. Assume Cindy wants to show the highest net income at the end of the year so she looks profitable to the bank. Assuming inflating prices, what inventory costing system would you tell her to use? Using this costing system, and knowing she started the year with zero inventory, what value should her ending inventory account have as of 12/31/2023 ? Cost System Used: Ending Inventory Account Value: 15 Cindy has decided to use a periodic inventory system. What is her cost of goods sold as of 12/31/2023 ? Cost of Goods Sold Account: 16 Record the entry to adjust Cindy's ending inventory account for candles sold throughout the year 17 Since these candles are a reminder of the scents you find while exploring Catskill mountains, travelers really love these as souveniers for their stay. Cindy was able to charge $28 per candle that she actually sold, and was required to charge an additional 6% of sales tax with each sale. She only accepted cash from customers (no credit card sales). For grading purposes, input your larger amounts for your debit and credit entries on their respective top rows. 13 Pick a drop down option from each cell, and enter figures in spaces provided. 12 Cindy started selling artisanal candles from a local artist in her gift shop. She will use the periodic inventory system, as she clearly does not record her entries on timely basis. She knows she purchased the following items throughout the year: 13 Record the journal entry to show Cindy's total purchase of inventory. Assume she made all of these purchases on account, but her employee never recorded the purchases throughout the year. 14 Cindy took a physical inventory count on 12/31/2023 and knows she still has 45 candles still on hand. Assume Cindy wants to show the highest net income at the end of the year so she looks profitable to the bank. Assuming inflating prices, what inventory costing system would you tell her to use? Using this costing system, and knowing she started the year with zero inventory, what value should her ending inventory account have as of 12/31/2023 ? Cost System Used: Ending Inventory Account Value: 15 Cindy has decided to use a periodic inventory system. What is her cost of goods sold as of 12/31/2023 ? Cost of Goods Sold Account: 16 Record the entry to adjust Cindy's ending inventory account for candles sold throughout the year 17 Since these candles are a reminder of the scents you find while exploring Catskill mountains, travelers really love these as souveniers for their stay. Cindy was able to charge $28 per candle that she actually sold, and was required to charge an additional 6% of sales tax with each sale. She only accepted cash from customers (no credit card sales). For grading purposes, input your larger amounts for your debit and credit entries on their respective top rows. 13