company's cost of goods sold was $4,000. Determine net purchases and ending inventory alven cost of goods available for sale were $11.000 and beginning inventory was $5,000? (A) Net Purchases $15,000 Ending Inventory .. $7,000 (B) Net Purchases $10,000 Ending Inventory ........... $15,000 (C) Net Purchases $9,000 Ending Inventory ............. $6,000 (D) Net Purchases ases $6,000 Ending Inventory ................. (E) Net Purchases $16,000 Ending Inventory ............. $7,000 $20,000 36 A company purchased $1,800 of merchandise on December 5. On December 7, it returned A cor $200 worth of merchandise. On December 8, it said the balance in full, taking a 2% discount. The amount of cash paid on December 8 equals: (A) $200 $1,564 $1,568 $1,600 $1,800 27 The following information is available for the Travis Travel Agency. After the closing entries have been journalized and posted, what will be the balance in the Retained Earnings account? Total Revenues..... $125,000 Total Expenses ...... $60,000 Retained Earnings ............ $80,000 Dividends. $15,000 (A) (B) (C) $65,000 $80,000 $130,000 $145,000 $280,000 $200,000 (D) (E)