XYZ Ltd buys lamps for $120 each and sells them for $200 each. On 1 April, XYZ Ltd had 400 lamps in its store. During April 2022 the following transactions took place: Purchased 200 lamps from Lighting Express, terms 1/15, n/30 3 April 11 April Sold 100 lamps on account. 13 April Paid Lighting Express the amount owed for 3 April purchase. 18 April Sold 120 lamps for cash. 22 April payment. A customer returned 5 of the lamps sold on 11 April. The customer received a discount of 150 and made the Required: (a) Prepare the journal entries to record each of the above transactions in the accounting records of XYZ Ltd assuming that the periodic inventory system is used. Ignore GST. (7marks) *Narrations in the general journals are not required. (b) The trial balance at the end of 2022 financial year includes the following accounts: Freight-out $1400, Purchase $60 000, Freight-in $500, Beginning inventory $46 000, ending inventory $85 000. Calculate Cost of goods available for sale. (1 mark)