QUESTION 1 The Bloomfield Corporation sells three items of inventory: rulers, mechanical pencils, and notebooks. The company begins operations on April 1, 2017 by purchasing 100 rulers at $6 each; 70 mechanical pencils at $8 each; and 120 notebooks at $7 each. Using the information above, calculate the book value (i.e., balance sheet value) of the three categories of inventory that Bloomfield would report as of April 1, 2017. Following up on Question 1: During the month of April, 2017, Bloomfield sells 24 rulers, 15 mechanical pencils, and 35 notebooks. Using the full cost values you calculated above (i.e., including the additional expenditures), compute the cost per unit of inventory, in dollar and cents, but without a $ sign, e.g.. XX.XX. 1. Rulers: 2. Pencils: 3. Notebooks: Now calculate the cost of goods sold for the items sold during April. Enter your results in dollars and cents, without a $ sign, e.g., xx.xx. We'll do this in steps: 1. Rulers: 2. Pencils: 3. Notebooks: 4. Total COGS: Finally, calculate the carrying value of the inventory that remains after the April sales. Note: as an intermediate step, you'll need to compute the number of units remaining in inventory for each category. But provide your answers below in dollars and cents without a $ sign, e.g., xx.xx. 1. Rulers: 2. Pencils: 3. Notebooks: 4. Total