5. Financial information is presented below: Operating expenses Sales revenue Cost of goods sold Gross profit would be A) $160,000. B) S 40,000 C) 50,000. D) S 10,000. S 40,000 200,000 150,000 6. Financial information is presented below: S 40,000 200,000 150,000 Operating expenses Sales revenue Cost of goods sold The gross profit rate would be A) .75 B) .20 C) .05. D) .25. 7. Financial information is presented below: 40,000 200,000 150,000 Sales revenue Cost of goods sold The profit margin would be A) .75 B) .05 C) .25. D) .95. 8. Noise Makers Inc. has the following inventory data: July 1 Beginning inventory 7 Purchases 22 Purchases 30 units at $19 105 units at $20 15 units at $22 S 570 2,100 $3,000 A physical count of merchandise inventory on July 30 reveals that there are 48 units on hand. Using the average cost method, the value of ending inventory is A) $930. B) $960. C) $976. D) $990