Question 4 (1 point) ABC. Ltd. uses a perpetual inventory system and the weighted average cost method. The following represents complete information on inventory transactions for ABC. Ltd, for the year January 1: Opening inventory 8000 units at $ 4 per unit June 1 Purchased 10000 units at $ 7 per unit August 1 Sold 6000 units at $ 22 per unit October 1: Purchased 4000 units at $ 10 per unit Calculate the gross profit (margin) for the year. Round your answer to the nearest dollar. Your Answer: Answer 1 80000 Question 5 (1 point) Hawky Dawky Ltd. began operations on July 1, 2020 and had the following sales and collection activities during 2020: Sale to Customer 1 on August 1, 2020 S 110000 Collections from Customer 1 during the year 48000 Sale to Customer 2 on November 1, 2020 Collections from Customer 2 during the year 44000 Sale to Customer 3 on November 15, 2020 Collections from Customer 3 during the year There were no other transactions during the year. Hawky Dawky Lid. offers its customers terms of 2/10 net 30 Hawky Dawky estimates that the likelihood of not being able to collect an accounts receivable is as follows Accounts not yet due Accounts overdue but less than 60 days overdue 7% Accounts overdue more than 60 days 78000 55000 3% 12% Calculate the net balance of accounts receivable at the end of the year Your