Assume

Nile.com began April with $14$ units of inventory that cost a total of $$266.$ During April, Nile purchased and sold goods as follows. Under the FIFO inventory method, how much is Nile's cost of goods sold for the sale on April $14?$

$\backslash$table$[[$Apr $8,$Purchase,$42$ units @ $$20],[14,$Sale,$35$ units @ $$40],[22,$Purchase,$28$ units @ $$22],[27,$Sale,$42$ units @ $$40]]$

A$.$ $$1,106$

B$.$ $$686$

C$.$ $$1,400$

D$.$ $$700$

$8.$ Notes receivables or accounts receivables that result from sales transactions are often called

A$.$ sales receivables.

B$.$ non$-$trade receivables.

C$.$ trade receivables.

D$.$ merchandise receivables.

$9.$ Recording depreciation each period is necessary in accordance with the

A$.$ going concern principle.

B$.$ cost principle.

C$.$ matching principle.

D$.$ asset valuation principle.

$10.$ On October $1,2014,$ Allen Jewelry Company accepted a $4-$month, $10\%$ note for $$2,400$ in settlement of an overdue account receivable. If the company accrues interest at year$-$end only, how much interest revenue should be accrued on December $31,2014?$

A$)$ $$80$

B$)$ $$60$

C$)$ $$240$

D$)$ $$40$