Question 22 The following account balances (normal balances) were taken from the journal entry used to transfer various merchandise amounts under a periodic inventory system into the Cost of Goods Sold account: Not yet answered Points out of 3.00 P Flag question Cost of Goods Sold Inventory (beginning) Freight-In Purchase Discounts Purchases Purchase Return $200,000 61.000 5,500 4,300 165.000 5.700 Based on the above facts, what was the ending inventory? Select one: a. $16,000 b. $41,500 c. $19,800 d. $21,500 e. $100,500 Question 23 Not yet During the year, the Jackson Company reported a decrease in liabilities of $34,700. For the year, revenues were $131,800, expenses were $196,700, and dividends were $73,000. During the year, $17,000 in common stock was issued. There were no other changes in equity. What was the decrease in assets for the year? answered Points out of 3.00 Flag question Select one: a. $86,900 b. $154,900 c. $81,900 d. $25,100 e. $155,600