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Calculate purchases for 2011: . Inventory 31/12/2010 $32 500 . Inventory 31/12/2011 34 000 . Cost of sales during 2011 $128 000 Select one: a. $126 500 O b. $123 500 C. $129 500 O 1. d. $132 500 Expenses resulting from the marketing and sale of inventory including, advertising, salesperson's salaries, sales commissions and delivery expenses can be classified as expenses in the income statement of a retailer. please note there are two words in this answer 2. In Australia, where most accounting is computerised, the use of the periodic inventory system is declining. Which of the following businesses is still most likely to use the periodic approach to accounting for inventory? Select one: O a. Chemist shop b. Supermarket O c. Fruit and vegetable shop 3 O d. Service station The main difference between a service and a retail business is that service businesses: Select one: O a. Sell directly to consumers O b. Buy and sell in bulk O c. Convert raw materials into finished goods 4 d. Sell services rather than goods Expenses resulting from the marketing and sale of inventory including, advertising, salesperson's salaries, sales commissions and delivery expenses can be classified as expenses in the income statement of a retailer. please note there are two words in this answer 5Which of these is n_ot an advantage of the perpetual Inventory system? Select one: (j. a. Allows stock losses to be identied f\".- b. Provides reordering information K\