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Insert Add Category Zoom Table Chart Text Shape Inventory Receivable 1) Date 1/1/22 7/1/22 7/30/22 10/1/22 12/1/22 12/21/22 Description Purchased Purchased Sold Purchased Purchased Sold Quantity 3 items @ $20 per item 4 items @ $10 per item 5 items 5 items @ $10 per item 10 items @ $20 per item 10 items a) Calculate both the ending inventory and the COGS using the FIFO method. b) using the COGS calculated from above, if you had $1,000 in sales, what would your net income be? 2) Date 1/1/22 7/1/22 7/30/22 10/1/22 12/1/22 12/21/22 Description Purchased Purchased Sold Purchased Purchased Quantity 3 Items @ $20 per item 4 items @ $10 per item 5 items 5 items @ $10 per item 10 items @ $20 per item 10 items Sold a) Calculate both the ending inventory and the COGS using the LIFO method. b) using the COGS calculated from above, if you had $1,000 in sales, what would your net income be? 75% Zoom EE Table Text W Add Category Insert Chart Shape Med Inventory Receivaly 31 You have a $50,000 balance in Account Receivable which cost of the following count Account Receivable Customer 1 $ 25.000 Customer 2 15,000 Customer 5 10.000 $ 50.000 Total Balance in AR . You received cameras med forankruptcy Under the Direct Write-off Method, at the financial statement below to reflect the information Lace Sheet Lates . Stm E AR 50,000 Tauty End ALE 50.000 locameStat 50.000 a Net Income Net Income End R/E You have 580,000 of sales for the month of anary that listed below Sales Sales 2 Sales 4 Sales 5 5 5 5 5 $ $ 2.000 on credit 15.000 cash 25.000 cash 20.000 on credit 18.000 50% was paid in /50% was paid on credit 0.000 Prepare your financial statements wing the above information binderwowance Method you determine that some your ending account receivables webeur collectible. Adjust your firancaltaments to reflect Hala Sheet Sunt Income Stat carta Touty