URGENT! PLEASE HELP

Burlington 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
January 1	Opening balance	40	$20
January 5	Purchase	20	$22
January 7	Purchase of January 5 items returned	-5
January 10	Sale	50	$40
January 12	Purchase	25	$24
January 17	Sale	20	$50
January 24	Purchase	35	$25

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.

Question 62 (2 points)

Saved

How will the January 5 purchase of inventory be recorded? Select all that apply. (2 marks)

Question 62 options:

a)	decrease Cash

b)	decrease Cost Of Goods Sold

c)	increase Purchases

d)	increase Inventory

e)	increase Cost Of Goods Sold

f)	increase Accounts Payable

Question 63 (2 points)

Saved

How will the January 7 purchase return be recorded? Select all that apply. (2 marks)

Question 63 options:

a)	increase Cost Of Goods Sold

b)	increase Inventory

c)	decrease Cost Of Goods Sold

d)	decrease Inventory

e)	decrease Purchases

f)	increase Purchase Returns

g)	decrease Cash

h)	decrease Accounts Payable

Question 64 (1 point)

Saved

Question 64 options:

What is the value of the inventory after the January 7 transaction?

Question 65 (4 points)

Saved

How will the January 10 sale be recorded? Select all that apply. (4 marks)

Question 65 options:

a)	decrease Sales

b)	increase Accounts Receivable

c)	decrease Accounts Receivable

d)	increase Sales

e)	increase Cost of Goods Sold

f)	decrease Inventory

g)	decrease Cash

h)	increase Cash

i)	increase Inventory

j)	decrease Cost of Goods Sold

Question 66 (1 point)

Saved

Question 66 options:

What amount of cost of goods sold will be recorded on January 10?

Question 67 (1 point)

Question 67 options:

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

Question 68 (1 point)

Question 68 options:

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

Question 69 (1 point)

Question 69 options:

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

Question 70 (1 point)

Question 70 options:

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

Question 71 (1 point)

Question 71 options:

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

Question 72 (1 point)

Question 72 options:

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

Question 73 (1 point)

Question 73 options:

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

Question 74 (1 point)

Question 74 options:

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

Question 75 (1 point)

Question 75 options:

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

Question 76 (1 point)

Question 76 options:

What is the total revenue for the month?

Question 77 (2 points)

Question 77 options:

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

Question 78 (2 points)

Question 78 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 79 (2 points)

Question 79 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 $30?

Start your answer with a + sign if an increase, a - sign if a decrease, or enter 0 if no adjustment is needed. (2 marks)