26) A company has August beginning inventory of 75 units costing $41 per unit and purchases 60 units costing $43 per unit on August 25. The company sells 45 units for $72 per unit on August 14 and 35 units for $73 per unit on August 30. How much is August'sgross profitif theperiodic FIFOcost flow method is used? (Ch8)

Question 26 options:

$2,395

$3,400

$2,505

$3,290

27) On March 7, a company sells $8,900 of inventory on account with terms 2/20, N/60. The company uses thenetmethod for discounts. How muchsales discountsshould be recorded if the company is paid back the full balance owed on March 24? (Ch7)

Question 27 options:

$185

$182

$0

$178

28) A company estimates that 4% of its $620,000 outstanding accounts receivable balance will be uncollectible in the following year. Assume that the company has a $14,300debitbalance in its allowance account. How much needs to be credited toallowance for doubtful accountsin the adjusting entry? (Ch7)

Question 28 options:

$0

$39,100

$10,500

$24,800

29) A company purchases an oil deposit for $5,460,000 that is expected to produce 950,000 barrels of oil and have no residual value. The company also spends $3,170,000 on development costs. If the company extracts 120,000 barrels of oil in its first year, how muchaccumulated depletionshould be recorded? (Ch11)

Question 29 options:

$0

$1,090,105

$757,802

$689,684

30) A company signs a contract for $4,600,000 for inventory to be produced next year. Before production has started, the market value of the contract falls to $3,480,000. Afterward, the inventory producer agrees to reduce the contract price by $570,000. Based on these facts, what amount should be debited tounrealized holding loss? (Ch9)

Question 30 options:

$550,000

$570,000

$0

$1,120,000