Problem 2 Use the following information to answer questions 7 to11. Use the TEMPLATE provided by your instructor to complete the inventory cost card. Beginning inventory, purchases and sales data for tennis rackets are as follows: Apr 3 11 Inventory Purchase 14 21 Sale Purchase 25 Sale 12 units @ $45 13 units @ $47 18 units 9 units @ $60 10 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and calculates the cost of merchandise sold and ending inventory using FIFO. The Total Cost of Inventory on April 3 is equal to $ QUESTION 8 Problem 2 (continued) The Total Cost of Purchases on April 11 is equal to $ QUESTION 9 Problem 2 (continued) The Total Cost of Inventory at the end of the day on April 14 is equal to $ QUESTION 10 Problem 2 (continued) The Total Cost of Purchases on April 21 is equal to $ QUESTION 11 Problem 2 (continued) The Total Cost of Inventory at the end of the day on April 25 is equal to $ Problem 3 Use the following information to answer questions 12 to 16. Use the TEMPLATE provided by your instructor to complete the inventory cost card. Beginning inventory, purchases and sales data for tennis rackets are as follows: Apr 3 11 Inventory Purchase 14 Sale 21 Purchase 25 Sale 12 units @ $45 13 units @ $47 18 units 9 units 10 units @ $60 Complete the inventory cost card assuming the business maintains a perpetual inventory system and calculates the cost of merchandise sold and ending inventory using LIFO. The Total Cost of Inventory on April 3 is equal to $ QUESTION 13 Problem 3 (continued) The Total Cost of Purchases on April 11 is equal to $ QUESTION 14 Problem 3 (continued) The Total Cost of Inventory at the end of the day on April 14 is equal to $ QUESTION 15 Problem 3 (continued) The Total Cost of Purchases on April 21 is equal to $ QUESTION 16 Problem 3 (continued) The Total Cost of Inventory at the end of the day on April 25 is equal to $