QUESTION 1 TK Suppliers is a wholesale company. They focus primarily on office supplies, furniture and small electronic items. TK Suppliers uses the perpetual inventory system. For one specific inventory item they had the following transactions for the month of April. There were 210 items at the beginning of the month, with a cost of $50 each. Price $51 Date Apr 5 Apr 7 Apr 15 Apr 19 Apr 27 Transaction Purchased items Sold items Purchased items Purchased items Sold items Quantity 300 410 350 440 390 $531 $49 Calculate the value of COGS for the month of April and the value of ending inventory at the end of April using the FIFO method. QUESTION 2 Bank Reconciliation The following information is provided for Omega Pool Service at the end of October 2016. GENERAL LEDGER Account: Cash GL No: 101 Date Description DR CR Balance Oct 1 Opening Balance $45,600 DR Oct 1 Deposit $7,700 $53,300 DR Oct 4 Chq #64 Office Supply Company $1,800 $51.500 DR Oct 7 Chq #61 Salary $2,640 $48.860 DR Oct 11 Chq #75 Lighting Supply $3,400 $45,460 DR Oct 12 Deposit $11.750 $57,210 DR Oct 18 Chq #67 Shelby Legal $3,670 $53,540 DR Oct 23 Chq #71 Hydro Company $1,890 $51.650 DR Oct 27 Chq #78 Bill's Maintenance $9,530 $42,120 DR Oct 31 Deposit $3,600 $45,720 DR BANK STATEMENT Date Explanation Withdrawal Deposit Balance Oct 1 Opening Balance $45,600 Oct 2 Deposit $7,700 $53,300 Oct 8 Chq #61 $2,640 $50,660 Oct 13 Deposit $11,750 S62,410 Oct 18 Chq #64 S360 S62,050 Oct 23 Chq #67 $3,670 S58,380 Oct 31 Service Charge S440 $57,940 Oct 31 Interest S180 $58,120 Any cheque errors were eashed correctly by the bank. a) Prepare the October bank reconciliation for Omega Pool Service. b) Record the relevant journal entries to bring the company's records up to date