1) Concord Company reported the following balances at June 30, 2020:

Sales Revenue	$17100
Sales Returns and Allowances	680
Sales Discounts	250
Cost of Goods Sold	7700

Net sales for the month is A) 17100 B)16170 C) 8470 D)16420

2) During 2020, Waterway Co. generated revenues of $92000. The companys expenses were as follows: cost of goods sold of $49000, operating expenses of $20000 and a loss on the sale of equipment of $3100. Waterways gross profit is A) 92000 B) 23000 C) 43000 D) 19900

3) Pharoah's Place recorded the following data:

	Units			Unit
Date	Received	Sold	On Hand	Cost
1/1 Inventory			700	$2.00
1/8 Purchased	1050		1750	2.70
1/12 Sold		1240	510

The weighted average unit cost of the inventory at January 31 is: A) $2.00 B) $2.35 C) $2.42 D) $3.10