il courses.ccac.edu Raunion Resort Vac... Student Home Plan & Schedule Co... Take Tast: Chapter... bed number 1 furnit... Ideal Sectionals to... Shopping Cart Se... how much inches is... + Aca Bonding Como value city furniture Blackboard Help Question Completion Status: QUESTION 5 10 points Save Answer Ace Bonding Company purchased inventory on account. The inventory costs $2,000 and is expected to sell for $3,000. How should Ace record the purchase using a periodic inventory system? 2.000 2,000 2,000 1,000 3,000 2,000 2,000 A Purchases Accounts Payable B. Cost of Goods Sold Deferred Revenue Sales Revenue C. Cost of Goods Sold Accounts Payable D. Cost of Goods Sold Gain Accounts Payable Option A Option B Optionc Option D 2,000 1,000 3,000 QUESTION 6 10 points Save Answer After evaluating the lower of cost and net realizable value of inventory, the accountant prepares a year-end adjustment. That adjustment would: Decrease the company's cost of goods sold. Reduce the company's stockholders' equity Increase the company's inventory Increase the company's total assets. QUESTION 7 10 points Save Answer Click Save and Submit to serve and submit. Click Save All Ansuxers to save all criswers. Save All Answers Save and Submit