for ayman stores that applies Perpetual system: assume that Net sales=160000$, cost of goods available for sales -170000$, ending inventory per Fifo-200005 ending inventory according to WA method60000 the gross margin when applying FIFO will be O 70000 O 60000 90000 100000 Assume that Sales = 40000, Sales Returns 2000, Cost of goods sold-22000 selling and administrative expenses=15000 the net income will be 14000 profit 1000 profit O 2000 profit O 16000 profit 1000 loss