QUESTION 4 On April 28, Carpenter Printing signed a 1 year rental contract for ofce space, beginning May 1, and paid $9,632 for 3 months' rent in advance. On April 29, Carpenter Printing signed a 1 year insurance contract for a comprehensive insurance policy with coverage beginning May 1. The full amount, $733, of the annual insurance policy is paid on April 29. Based on these transactions alone, what are the Total Prepaid Expenses on the Balance Sheet on May 31? QUESTION 5 Carpenter Corporation is a United Stated merchandising business. The corporation extensively uses scan technology in a perpetual inventory system; and in the past, the corporation has valued inventory using the LIFO cost ow assumption. Carpenter Corporation is seeking new markets outside the United States and wishes to restate its Inventory on the Financial Statements, based on International Financial Reporting Standards. Using the following information, and assuming that Carpenter Corporation will not use an average cost method of cost ows, what is the Cost of Merchandise Sold on the restated Income Statement which will be acceptable under both US GAAP and International IFRS, for the month ended September 30? Sep. 1 Inventory 20 units at $22 4 Sold 14 units 10 Purchased 35 units at $25 17 Sold 27 units 30 Purchased 13 units at $33 10 polnts Save Answer 10 points Sam