Part 2. Answer the following problems . Show your solution at the back of your paper. Problem 1. The Gross Profit of Amielle's Co. is P100,000. Goods Available for Sale is P1, 100,000, while Beginning Inventory is P100,000. If Purchases is P1,000,000 and Sales also amounted to P1,000,000 what is the amount of Ending 1 Inventory of the Company (5points ) Problem 2. The cost of Sale is P250,000. Total Purchases amounted to P300,000 which increased the total goods available for sale to P310,000 . What is the ending inventory of the company ? (5points ) Problem 3. Assuming that net purchases was P900,000 during the year and that ending merchandise inventory was P20,000 less than the beginning merchandise inventory of P250,000 . How much was cost of goods sold ? (5points ) BONUS POINTS The selected accounts and balances for Star Mart appear as follows ertising 140,000 Expense Transportation In 70,000 Transportation out 100,000 Interest Income 240,000 X, Capital 1,400,000 X, Drawing 210,000 Mase Inventory Jan 700,000 1 Mase Inventory 560,000 Dec 31 Purchases 600,000 Purchase Return 40,000 and Allw. Rent Expense 90,000 Sales 1,500,000 Sales Discount 60,000 Sales Return and 130,000 Allw . Salaries Expense 320,000 a. What is the amount of net sales ? (3points ) b. What is the Cost of Goods Available for Sale ? (3points ) c. What is the Gross Profit ? (3points )