13 Cushman Company had $836,000 in net sales. $365,750 in gross profit, and $209,000 in operating expenses. Cost of goods sold equals: 201804 Multiple Choice $209,000 $470.250. $836.000 $365,750 $261,250 14 Cushman Company had $848,000 in sales, sales discounts of $12,720, sales returns and allowances of $19,080, cost of goods sold of $402,800, and $291,710 in operating expenses. Gross profit equals: 2. M41 Multiple Choice $426.120. $816,200 $121,690. $432,480 $413,400. 15 A company purchased $3,600 of merchandise on July 5 with terms 2/10, 30. On July 7, it returned $395 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: 2012 Multiple Choice $3333 $3341 $3,205 $3.600 $395 16 8 Salmone Company reported the following purchases and sales of its only product, Salmone uses a perpetual inventory system, Determine the cost assigned to ending inventory using LIFO Date May 1 May 5 Activities Beginning inventory Purchase 226 units Units Acquired at Cost 156 units $10-$1,560 $12-$2,712 Units Bold at Retail May 201 Sales 146 units $20 May 15 Purchase 106 units $13-$1,370 May 241 Sales 96 units $21 Mutiple Choice O $5,650 $2.650 $2.520 $3330 $3.010 17 01355 Bedrock Company reported a December 31 ending inventory balance of $412,500. The following additional information is also available: The ending inventory balance of $412,500 included $73,300 of consigned inventory for which Bedrock was the consignor The ending inventory balance of $412,500 incorrectly included $24,600 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year Based on this information, the correct balance for ending inventory on December 31 is Multiple Choice $412,500. $314,300 $338.900 $387,900 $303,000