Assume a merchandising company provided the following income statements: July 5,500 $192,500 99,000 93,500 May June Sales in units 5,000 4,800 Sales $175,000 $168,000 Cost of goods sold 90,000 86,400 Gross margin 85,000 81,600 Selling and administrative expenses: Advertising 17,000 17,000 Shipping 17,500 16,800 Salaries and commissions 30,000 29,600 Total selling and administrative expenses 64,500 63,400 Net operating income $ 20,500 $ 18,200 17,000 19,250 31,000 67,250 $ 26, 250 Which of the expenses shown in the income statements is (are) behaving like a variable cost? Multiple Choice Multiple Choice Cost of goods sold 3 Cost of goods sold and shipping Cost of goods sold, shipping and salaries and commissions Cost of goods sold and salaries and commissions