Frank's Furniture is a merchandising business that sells furniture. The company purchased 3 wooden tables from a manufacturer for $100 each on April 1. The company then purchased an additional 2 tables for $110 each on April 5 On April 8, the company sells 1 table to a customer for $200. If Frank's Furniture uses to the weighted average inventory costing method, how much would it record as Cost of Goods Sold for the sale of 1 table? $100 $100 S105 $110 QUESTION 24 Frank's Furniture eamed $50,000 of Sales Revenue this year. The company incurred $20,000 of Cost of Goods Sold and $10,000 of Selling & Administrative Expenses. What is the company's Gross Profit? $20,000 $30,000 $70,000 $80,000