1- Boston Company sells tenten items for$1,400 per? unit, and has a cost of goods sold percentage of 60?%.The gross profit to be reported for selling10 items? is:

A.

$ 14,000.

B.

$8,400.

C.

$5,600.

D.

$ $560.

2- The following data are for? Steve's Candy Store for? January:

Beginning inventory	$221,000		Net sales revenue	$590,000
Net purchases	510,000		Normal gross profit rate	30?%

What is the? company's estimated ending inventory for the? month?

A.

$318,000.

B.

$177,000.

C.

$554,000.

D.

$413,000