Jake Co. uses a periodic inventory system. The purchases of a particular peouct Beginning inventory during the year are shown below Apr. 18Purchase Aug 1 Purchase Oct. 23Purchase 600 units (@ $ 800 500 units $10.00 700 units $120o 200 units $1400 The number of units sold during the year at $36 eaclh 32. units were sold on July 5 and 400 units were sold on September 14. Refer to the above data a. $11,000 b. $14,200 Compute the coat of the ending invenlory based on the FIFO mcthod of inventory valuation $6,800 d. $10,000 e. None of the above 33. Refer to the above dats. Compate th e gross margin for the curront year based on the FIFO method of inventiory valuation. a $32,200 b. $28,800 $17,800 d. $29,000 e None of the above 34. Refer to the above data. Compute the cost of goods sold for the current year based on the LIFO method of inventory valuation a. $11,000 b. $14,200 . $6,800 d $10,000 e. Nome of the above 35 Refer to the ahove data. Compute the cost of the ending inventory based on the average-cost method of inventory valuation a. $10,000 b. $8,400 e $12,600 d. $8,000 e None of the above 36. Refer to the above dats. Compute the total sales revenue under the LIFO method of inventory valuation a $28,800 b. $36,000 $24,000 d. $43,200 e. None of the above Sonia Car Repair reports net sales of $1,000,000, cost of goods sold of $$70,000, and net income of $80,000. The company's gross margin 1s. a. $350,000 b. $430,000 c. $920,000 d. $570,000 e. Some other amount Tanya Corp. had accounts receivable of $400,000 and an allowance for doubtful accounts of S17,000 just before writing off as worthless an aocount receivable from Kevin Company of $2,400. The values of the gross accounts roceivable before and after the write-off were a. $417,000 before and $414,600 after b. $383,000 before and $380,600 after c. $383,000 before and $397,600 afler d. $400,000 before and $402,400 after e. None of the above