1) A company purchased 400 units for $30 each on January 31. It purchased 100 units for $20 each on February 28. It sold a total of 300 units for $50 each from March 1 through December 31. If the company uses the last-in, first-out inventory costing method, calculate the cost of goods sold on December 31. (Assume that the company uses a perpetual inventory system.) A) $15,000 B) $6,000 C) $9,000 D) $8,000

2) TATAs Market recorded the following events involving a recent purchase of merchandise: Received goods for $60,000, terms 2/10, n/30. Returned $1,200 of the shipment for credit. Paid $300 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the companys merchandise inventory a. increased by $57,624. b. increased by $59,100. c. increased by $57,924. d. none of the above.