Question 16 (1 point)

Question 16 options:

What is the value of the inventory after the July 10 transaction?

Question 17 (1 point)

Question 17 options:

What is the gross profit percentage on the July 10 sale?

Question 18 (1 point)

Question 18 options:

What is the amount of gross profit on the July 10 sale?

Question 19 (1 point)

Question 19 options:

What is the value of the inventory after the July 12 transaction?

Question 20 (1 point)

Question 20 options:

What amount of cost of goods sold will be recorded on July 17?

Question 21 (1 point)

Question 21 options:

What is the value of the inventory after the July 17 transaction?

Question 22 (1 point)

Question 22 options:

What is the gross profit percentage on the July 17 sale?

Question 23 (1 point)

Question 23 options:

What is the amount of gross profit on the July 17 sale?

Question 24 (1 point)

Question 24 options:

What is the value of the inventory after the July 24 transaction?

Question 25 (1 point)

Question 25 options:

What is the total revenue for the month?

Question 26 (2 points)

Question 26 options:

What is the total gross profit for the month? (2 marks)

Question 27 (2 points)

Question 27 options:

What is the amount of the adjustment that must be made to inventory at the end of the month if the selling price drops to $20? Start your answer with a + sign if an increase, a - sign if a decrease, or enter 0 if no adjustment is needed. (2 marks)

Question 28 (2 points)

Question 28 options:

What is the amount of the adjustment that must be made to inventory at the end of the month if the selling price drops to $35? Start your answer with a + sign if an increase, a - sign if a decrease, or enter 0 if no adjustment is needed. (2 marks)

Dundas Wholesale Inc. had the following inventory transactions for one month. The company uses a perpetual system and FIFO. All purchases and sales are on account. # of unit cost or items sale price July 1 Opening 45 $30 balance July 5 Purchase 20 $32 Purchase July 7 of July 5 -5 Jitems returned July 10 Sale 45 $40 July 12 Purchase 25 $34 July 17 Sale 20 $50 July 24 Purchase 35 $35 Use an inventory cost chart and an accounting chart to analyze the above transactions, and then answer the questions below. Where you are asked to enter a percentage, you may enter it in any of several ways. For example, 78 percent can be entered as 78%, .78, 0.78, or 78. Dollar figures should be entered WITHOUT dollar signs, commas, or decimal points