Haaki Shop Inc. is a large retailer of surfboards. The company assembled the information shown below for the quarter ended May 31: Amount Total sales revenue $800,000 Selling price per surfboard 400 Variable selling expense per surfboard 50 Variable administrative expense per surfboard 20 Total fixed selling expense 150,000 Total fixed administrative expense 120,000 Merchandise inventory, beginning balance 80,000 Merchandise inventory, ending balance. 100,000 Merchandise purchases 320,000