The business began the second quarter (April to June) of zo18 with us (Alanea) candle s completed during the quarter HIWk Purnishings sells a variety of decorative pieces including a variety of candle holders holder% at tofal cost of $i08.750. The following transactions relating to the Alanea" candle holders were April 7 9o candle holders were purchased at a cost of $6,850 each In addition the ust freight eharges of $8o0 eash on each candle holder to have the inventory shipped from the point of purchase to their warehouse 8803.a50. (35 of these umits were sold on acot to longstanding oustomers of the A new hatch of 8o candle holders was purchased at a total cost of $6s4.No found to be defective and were returned to the supplier Aptil 13The sales for April were 75 candle bolders which yielded total sale. revenue of May 6 May 9 Upon inspection of the candle h lders purchased on May o, five (5) of the units were Tay 3 During the month 62 of the decorative pieces were sold at a price of S11,45o each hine 5 | customer, to whom 7 of the candle holders were sold during thefirst business day of May, returined 3 of the canille holders, as they were of another make & model une s4 Owing to an increased demand, a further tto candle holders were purchased at a cost of So,ooo each, the supplier gave a 3% quantity discount on the purchase. | : :6 c ne holdes, vinerr,iring .rnor at a unit selling price of $12.250 a c of business which revealed that there were 36 pieces of the Aldie a lumd u4 merchandac in the store ion. Unless otherwise stated, assione that all purchases were on account and received on the dates stated Required: Prepare a perpetuet inventory record for this merchanidlise, using the first in, first out (Iiro) "wind ', invcului valuation to dele uue iae iumpany's cost of goods said for the (22 marks) quarter and the value of ending nd adiin trative cota asesiated with the Alanea brand of acome itatment for Don Hawk Furnishings Al)for the guurtet endel ne g 2018. to marla) (C) Journalice the transactions for the anouth of Agral,y Periodic inventory system Perpetual inventory g tem ID) The manager of the busincss e liability as mmuch as possible anlin the w ht thod wuld be beat Do y agree with Don? Explain your (FIFO) and last in, first out (LO) methods of ly ingbthest (4 maria) The business began the second quarter (April to June) of zo18 with us (Alanea) candle s completed during the quarter HIWk Purnishings sells a variety of decorative pieces including a variety of candle holders holder% at tofal cost of $i08.750. The following transactions relating to the Alanea" candle holders were April 7 9o candle holders were purchased at a cost of $6,850 each In addition the ust freight eharges of $8o0 eash on each candle holder to have the inventory shipped from the point of purchase to their warehouse 8803.a50. (35 of these umits were sold on acot to longstanding oustomers of the A new hatch of 8o candle holders was purchased at a total cost of $6s4.No found to be defective and were returned to the supplier Aptil 13The sales for April were 75 candle bolders which yielded total sale. revenue of May 6 May 9 Upon inspection of the candle h lders purchased on May o, five (5) of the units were Tay 3 During the month 62 of the decorative pieces were sold at a price of S11,45o each hine 5 | customer, to whom 7 of the candle holders were sold during thefirst business day of May, returined 3 of the canille holders, as they were of another make & model une s4 Owing to an increased demand, a further tto candle holders were purchased at a cost of So,ooo each, the supplier gave a 3% quantity discount on the purchase. | : :6 c ne holdes, vinerr,iring .rnor at a unit selling price of $12.250 a c of business which revealed that there were 36 pieces of the Aldie a lumd u4 merchandac in the store ion. Unless otherwise stated, assione that all purchases were on account and received on the dates stated Required: Prepare a perpetuet inventory record for this merchanidlise, using the first in, first out (Iiro) "wind ', invcului valuation to dele uue iae iumpany's cost of goods said for the (22 marks) quarter and the value of ending nd adiin trative cota asesiated with the Alanea brand of acome itatment for Don Hawk Furnishings Al)for the guurtet endel ne g 2018. to marla) (C) Journalice the transactions for the anouth of Agral,y Periodic inventory system Perpetual inventory g tem ID) The manager of the busincss e liability as mmuch as possible anlin the w ht thod wuld be beat Do y agree with Don? Explain your (FIFO) and last in, first out (LO) methods of ly ingbthest (4 maria)