22. A company uses the periodic inventory system and had the following activity during the current monthly period. November 1: November 5: Beginning inventory Purchased November 8: November 16: November 19: Purchased Sold Purchased 105 units $10 105 units $30 55 units @$22 146 units $70 40 units $30 Using the weighted-average inventory method, the company's ending inventory would be A. $1,050 B. $2,410 C. $2,250 D. $3,446 E. $3,460 23. If a company purchases equipment costing $3,600 on credit, the effect on the accounting equation would be: A. Assets increase $3,600 and liabilities decrease $3,600. B. Equity decreases $3,600 and liabilities increase $3,600. C. One asset increases $3,600 and another asset decreases $3,600. D. Assets increase $3,600 and liabilities increase $3,600. E. Equity increases $3,600 and liabilities decrease $3,600. 24. Tsutsui Company had sales of $137,000, sales discounts of $2,050, and sales returns of $3,290. Tsutsui Company's net sales equals: A. $5,340. B. $131,660. C. $134,950. D. $137,000. E. $142,340.