QUESTION 5 Correct Mark 1,00 out of 1.00 、Remove flag *Edit question Lowe's is the second-largest home improvement retailer in the world. During a recent fiscal year, Lowe's purchased merchandise inventory at a cost of $29,238 ($ millions). Assume that all purchases were made on account and that accounts payable is only used for inventory purchases. The following T-accounts reflect information contained in the company's balance sheets in millions. What amount did Lowe's pay in cash to its suppliers during the fiscal-year? Merchandise Inventories Accounts Payable Select one: Beg 5.911 Bal. A. $29,238 million End.B.$29,101 million End ° C. $137 million D. $2,832 million

QUESTION 3 EPR Industries is a wholesaler that distributes boxes of toy cars to local shops. Thecompany has a 31 December financial year end. The following inventory transactions occurred during January 2018: January Purchases January Sales1 220 boxes at R220 10 220 boxes at R2863 440 boxes at R231 14 110 boxes at R28616 110 boxes at R236 18 220 boxes at R26425 660 boxes at R249 24 110 boxes at R28628 220 boxes at R253 26 220 boxes at R26429 220 boxes at R264 27 330 boxes at R30831 330 boxes at R308 There was no opening inventory in January 2018.Required:Calculate the gross profit using:3.1. FIFO method (10) 3.2. Weighted average method (10)

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