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Prevented below is information related to Swifty Enterprises. Jan. 31 Feb. 28 Mar. 31 Apr. 30 Inventory at cost $12.600 $12.680 $14.280 $11.760 Inventory at

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Prevented below is information related to Swifty Enterprises. Jan. 31 Feb. 28 Mar. 31 Apr. 30 Inventory at cost $12.600 $12.680 $14.280 $11.760 Inventory at NRV 12.180 10.580 13.100 11.180 Purchases for the month 14.280 20,160 22.260 Sales for the month 24,360 29.400 33,600 (a) From the information, prepare (as far as the data permit) monthly income statements in columnar form for February March, and April The inventory is to be shown in the statement at cost: the gain or loss due to market fluctuations is to be shown separately (using a valuation account). (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses ey. (45)) February March Prepare the journal entry required to establish the valuation count at January 3:1 and metries to adjust it monthly thereafter. amount b entered Do not indent Account Titles and Explanation Debt Credit Date

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