A company has a beginning inventory of $50,000 and purchases during the year of $150,000. The beginning inventory consisted of 3,000 units and 8,000 units were purchased during the year. 4,180 units remain in ending inventory. The cost of the ending Inventory using the average cost method will be: (Round any intermediary calculations to two decimal places and your final answer to the nearest dollar.) O A. $199,980. O B. $75,992 OC. $275,972. OD. $123,988 Anew Health Care Company reports net income of $220,000 and Depreciation Expense of $19,000 for the year ending December 31, 2019. No long-term assets were sold or exchanged during 2019. They also have the following data available: December 31, 2019 December 31, 2018 Current Assets: Cash Accounts Receivable Inventory Total Current Assets $29,000 $160,000 $97.000 $286,000 $78,000 99,000 66,000 $243,000 Current Liabilities: Accounts Payable Salaries Payable $53,000 40,000 $39,000 92,000 O A. $71,000 O B. $109,000 OC. $140,000 OD. $200,000 On December 1, Macy Company sold merchandise with a selling price of $8,000 on account to Mrs. Jorgensen, with terms 4/10, n/30. On December 3, Mrs. Jorgensen returned merchandise with a selling price of $700. Mrs. Jorgensen paid the amount due on December 9. What journal entry did Macy Company prepare on December 9 assuming the gross method is used? O A. Dobit Sales Revenue for $7,008, debit Sales Discounts for $292, and credit Accounts Receivable for $7,300. OB Debit Cash for $7.008, debit Sales Discounts for $292, and credit Accounts Receivable for $7,300. OC. Debit Sales Revenue for $7,300, credit Sales Discount for $292 and credit Cash for $7,008. OD. Debit Cash for $7,008 and credit Accounts Receivable for $7,008, Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 Jan. 10 purchase Jan. 22 purchase 120 units at $6 per unit 310 units at $13 per unit 120 units at $14 per unit At January 31, 190 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? O A. $1,630 O B. $1,700 OC. $1,140 OD. $2,590 A statement of cash flows accomplishes all of the following EXCEPT: O A. provides information about the cash receipts and cash payments during a period. O B. predicts future cash flows. O c. determines the ability of the company to pay dividends and interest. OD. lists revenues and expenses