QUESTION 1 Martin Company purchases $4,200 of merchandise on March 1, with credit terms of 3/10, n/30. lf Martin pays on March 9, what is the cost of this purchase? $4,074 $3,780 $4,200 $3,864 QUESTION 6 Kam Company has the following units and costs: Units Unit Cost Inventory. Jan. 1 8,000 $11 Purchase, June 19 13,00012 Purchase, Nov. 8 5,000 13 If 9,000 units are on hand at December 31, what is the cost of the ending inventory under LIFO using a periodic inventory system? $99,000 $100,000 $108,000 $113,000 QUESTION 3 Which of these accounts have a normal debit balance? Choose the best answer. Sales discounts only Sales returns and allowances only Both Sales returns and allowances and sales discounts Neither sales returns and allowances or sales discounts QUESTION 9 Metlock, Inc. has the following inventory data: July 1 Beginning inventory 7 Purchases 22 Purchases 27 units at $17 95 units at $18 14 units at $20 $459 1710 280 $2449 A physical count of merchandise inventory on July 30 reveals that there are 43 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for July is $747 $774 $860 $802