QUESTION 25 Sheldon Company had 2,000 units of inventory costing $10,000 in beginning inventory at July 1st During July, Sheldon Co. engaged in the following transactions: July 3rd - The company paid cash to purchase 1,000 units of inventory for $6,500. July 10th - The company paid cash to purchase 1,200 units of inventory for $8,400. July 24th The company paid cash to purchase 250 units of inventory for $2,125. Throughout July, the company sold inventory 3,700 units of inventory for $44,400 cash. 25. Under a LIFO valuation method, what is the dollar value of Sheldon Co.'s cost of goods sold for July? A. $ 18,275 B.$ 23,275 C.$ 21,400 $ 44,400 QUESTION 26 Sheldon Company had 2,000 units of inventory costing $10,000 in beginning inventory at July 1st. During July, Sheldon Co. engaged in the following transactions: July 3rd - The company paid cash to purchase 1,000 units of inventory for $6,500. July company paid cash to purchase 1,200 units of inventory for $8,400. July 24th The company paid cash to purchase 250 units of inventory for $2,125. Throughout July, the company sold inventory 3,700 units of inventory for $44,400 cash. 10th - The 26. Under a LIFO valuation method, what is the dollar value of Sheldon Co.'s ending inventory balance at July 31st? A. $ 23,275 B.$ 17,375 C.$ 3,750 OD.S 5,625 QUESTION 27 Fede Company entered into the following business events during its first month of operations. The company uses the perpetual inventory system. The company purchased $12,500 of merchandise on account under terms 2/10, n/30. The company returned $1,200 of merchandise to the supplier before payment was made. The liability was paid within the discount period. All of the merchandise purchased was sold for $18,800 cash. 27. What is the gross margin that results from these four transactions? A. $7,726 B. $6,525 C.$11,074 D.$5,100