Question 19 2 pts A merchant's gross profit will equal $0 if cost of goods sold equals gross margin net sales equal non-operating expenses and losses. O net sales equals cost of goods sold. operating expenses equal net sales. Question 20 2 pts Which item below is listed in the non-operating expenses and losses section of a candy store's multiple-step income statement? O Utilities Expense Property Tax Expense O Interest Expense O Cost of Goods Sold Question 21 2 pts Crayfish Corporation uses a periodic inventory system. Which calculation correctly shows how the company calculates cost of goods sold? Cost of Goods Available for Sale - Ending Inventory Cost of Goods Sold Beginning Inventory - Inventory Purchases + Ending Inventory - Cost of Goods Sold O Cost of Goods Available for Sale - Beginning Inventory - Cost of Goods Sold Ending Inventory + Inventory Purchases - Beginning inventory Cost of Goods Sold U Question 22 2 pts Radical Radials Company uses a periodic inventory system and has the following inventory data: October 1 Beginning inventory 30 units at $19/unit October 7 Purchased 105 units at $20/unit October 22 Purchased 15 units at $22/unit A physical count of merchandise inventory on October 31 reveals that there are 48 units on hand, Using the LIFO inventory method, the amount allocated to ending Inventory for October is O 912 O 51.056 $930 5960