Martha, Inc. had 24,000 units of ending inventory that were recorded at the cost of $9.00 per unit using the FIFO method. The current replacement cost is $4.50 per unit. Which of the following amounts would be reported as ending Merchandise Inventory on the balance sheet using the lower- of-cost-or market rule? OA. OB. OC. OD, $216,000 $108,000 $240,000 $324,000 A company that uses the perpetual inventory system purchased 500 pallets of industrial soap for $10,000 and paid $950 for the freight- in. The company sold the whole lot to a supermarket chain for $13,000 on account. Which of the following entries correctly records the sale? A. Accounts Receivable 13,000 Sales Revenue 13,000 Cost of Goods Sold 10,000 Merchandise Inventory 10,000 B. Merchandise Inventory 13,000 Cost of Goods Sold 13,000 C. Accounts Receivable 13,000 Sales Revenue 13,000 Cost of Goods Sold 10,950 Merchandise Inventory 10,950 D. Cost of Goods Sold Sales Revenue 13,000 13,000