A $1,000 purchase of merchandise inventory is made on April 12 with terms 2/10 n30. On April 16, merchandise costing $150 is returned. What amount will be paid if payment is made in full on April 21? O a. $830 O b. $833 O c. $930 O d. $850 ABC Company uses a periodic inventory system and has the following units and costs: Units Unit Costs Total Costs March 1 Beginning 8,000 $11 $88,000 Inventory July 18 Purchases 13,000 $12 $156,000 October 7 Purchases 5,000 $ 13 $65,000 26,000 $309,000 If 9,000 units are on hand at Dec. 31, what is the cost of the ending inventory using FIFO? O a. $113,000 b. $196,000 O c. $209,000 O d. $100,000 ABC Company is a publically traded company and they issue 10,000 common shares in exchange for a piece of land. At the time of the transaction, the shares were trading at $5 a share and the land was valued at $45,000. To record this transaction one would record the following: O a. This transaction would not be recorded since it is a non cash transaction O b. Land is debited $45,000 and Common shares credited $45,000 O c. Land is debited $50,000 and Common shares credited $50,000 O d. Land is debited $45,000, Loss on sale of shares of $5,000 and Common shares credited $50,000 Given Net sales are $500,000, cost of goods sold is $325,000, selling expenses are $10,000, Administrative expenses are $40,000, other revenues are $15,000, and income tax expense is $8,000. What is the gross profit? a. $140,000 O b. $125,000 O c. $132,000 O d. $175,000