The following events occur during January: a. Webworks starts and completes seven more Web sites and bills clients for $4,900. b. Webworks purchases supplies worth $300 on account. c. At the beginning of January, Webworks had fourteen keyboards costing $118 each and twenty flash drives which had been written down to $5 each in December due to obsolescence. Webworks uses perpetual LIFO to cost its inventory. d. On account, Webworks purchases sixty-five keyboards for $125 each and ninety of the new flash drives for $22 each. e. Webworks pays Nancy $775 for her work during the first three weeks of January. f. Webworks writes off an account receivable from October in the amount of $250 because collection appears unlikely. Webworks receives $750 in advance to design a Web site for a local salon. Work won't begin on the Web site until February. h. Webworks sells seventy keyboards for $9,900, all twenty of the old flash drives for $100 (for all the old flash drives) and eighty of the new flash drives for $2,600 cash (for all new flash drives).