Def Leppard Company buys a scooter for $550. The delivery cost for the scooter was another $50. Another $40 was spent to tune up and clean the scooter so it could be placed on the showroom floor. The scooter sold for $900. Def Leppard Company paid $40 to have the scooter delivered to the customer. What is the gross profit of this sale? Answer: Which of the following goods in transit would a company include in their inventory balance (i.e., which of the following goods in transit does the company legally own)? 1. Sales to customers shipped FOB destination 2. Sales to customers shipped FOB shipping point 3. Purchases from suppliers shipped FOB destination 4. Purchases from suppliers shipped FOB shipping point Select one: O Choice 1 and choice 4 O Choice 2 and choice 4 O Choice 1 and choice 3 O Choice 2 and choice 3 Carvin Company sold $2,000 of goods to a customer on account with credit terms 2/10, n/30. The journal entry for this sale includes which of the following? Select one: O credit to Accounts Receivable for $2,000 O debit to Accounts Receivable for $1,960 O credit to Sales Discounts for $40 O debit to Sales Discounts for $40 O credit to Sales Revenue for $2,000 O debit to Sales Revenue for $1,960