Question 13 (2 points) A company shows the following balances: Sales Revenue $1,000,000 Sales Returns and Allowances 175,000 Sales Discounts 25,000 Cost of Goods Sold 600,000 What is the company's gross profit rate? O 1) 60% O2) 75% Om3) 40% O4) 25% Question 17 (2 points) At December 31, 2022, Mohling Company's inventory records indicated a balance of $632,000. Upon further investigation it was determined that this amount included the following: * $112,000 in inventory purchases made by Mohling shipped from the seller 12/27/22 terms FOB destination, but not due to be received until January 2 *$74,000 in goods sold by Mohling with terms FOB destination on December 27. The goods are not expected to reach their destination until January 6 *$6,000 of goods received on consignment from Dollywood Company What is Mohling's correct ending inventory balance at December 31, 2022? 01) $520,000 2) $626,000 O 3) $440,000 4) $514,000