Please answer these 13 questions with explanation.

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- 1. Beginning inventory is 530,000. Purchases of inventory during the year are $50,000. Cost of goods sold is $60,000. What is ending inventory? ST0000 D $50 000 -2. Beginning inventory is $40,000. Purchases of inventory during the year are $200,000. Ending inventory is $100,000. What is cost of goods sold? A $340,000 B $240,000 C. $260,000 D.$140,000 -3. Ravens Inc. has net sales of $200,000, cost of goods sold of $120,000, selling expenses of $6,000, and nonoperating expenses of $2,000. What is the company's gross profit? A $76 000 1580,000 C.574,000 D $72 000 -4. LeGrand Corporation reported the following amounts in its income statement:. Sales revenue Advertisin Interest expense Salaries expense Utilities Income tax ex $440,00 10,00 25,00 ense se oods What was LeGrand's net income? A $120,000 B. S60,000 C.$110,000 D. S65.000 5-7. The following information relates to inventory for Shoeless Joe Inc. Date March 1 March 7. March 1 March Quant Price Beginning Invento Purchase Sale 15 5. At what amount would Shoeless report cost of goods sold using FIFO cost flow assumptions? 6. At what amount would Shoeless report gross profit using FIFO cost flow assumptions? .7. At what amount would Shoeless report ending inventory using FIFO cost flow assumptions? . 11-13. The following information relates to inventory for Shoeless Joe Inc. Date March March 7. Purchase March March Quan Price Beginning Invento Sale 11.At what amount would Shoeless report cost of goods sold using the weighted-average cost flow assumption? (Round your answer to the nearest dollar) 12. At what amount would Shoeless report ending inventory using the weighted-average cost flow assumption? (Round your answer to the nearest dollar) 13. At what amount would Shoeless report gross profit using the weighted-average cost flow assumption? (Round your answer to the nearest dollar)