Question 2 of 7 -/1 View Policies Current Attempt in Progress The following information is for Grouper Enterprises Ltd.: Jan 31 Feb. 28 Mar. 31 Apr. 30 Inventory at cost $25,300 $26,100 $29,000 $24,000 Inventory at the lower of cost and net realizable value 24,400 18,600 22,600 18,000 20,000 Purchases for the month 24,100 26,600 29.100 37,000 40,200 Sales for the month Part 1 Part 1 Using the above information, prepare monthly income statements (as far as the data permit) in columnar form for February. March, and April. Show the inventory in the statement at cost; show the gain or loss due to fluctuations in NRV separately. Grouper uses the indirect or allowance method. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses e.g. (45).) 26C mg videndis... Question 2 of 7 -/1 Grouper Enterprises Ltd. Income Statement February March Sales $ $ Cost of Goods Sold v Inventory, Beginning Purchases Inventory, Ending Cost of Goods Available