Question 19 Sales revenue less cost of goods sold is called Not yet answered Marked out of 1.00 a. Net profit O b. Net income. O c. Gross profit. O d. Marginal income P Flag question Question 20 Not yet answered Marked out of 1.00 Flag question A Shirts Company uses a periodic inventory system. During the first year of operations, the company made four purchases of a particular product. The first purchase includes 500 units at a cost of $9 per unit, the second purchase includes 500 units at a cost of $10 per unit, the third purchase includes 500 units at a cost of $12 per unit and the fourth purchase includes 500 units at a cost of $13 per unit, At year-end, 650 of these units remained unsold. Compute the cost of goods sold under the Weighted Average method: O a. $8,690 O b. $6,160 O c. $14,850 O d. $10,612 Noyt nade