17) On July 16, 2011, Martson and Co. made the following journal entry: Accounts Receivable 25,000 Sales Revenue 25,000 Cost of Goods Sold 10,000 Inventory 10,000 What is the Gross Profit from this sale? A) B) c) $10,000 $15,000 $25,000 $ 0 18) Given the following data, calculate the cost of ending inventory using the FIFO costing method. Date Item Unit 1/1 Beginning inventory 30 units at $10 per unit 2/25 Purchase of inventory 15 units at $12 per unit 5/20 Purchase of inventory 25 units at $13 per unit 8/15 Purchase of inventory 20 units at $14 per unit 10/17 Purchase of inventory 25 units at $15 per unit 12/31 Ending inventory 65 units A) B) $915 $740 $720 $545 D)