Question 39 Not yet answered Tamara Company began the year with three items in beginning inventory, each costing S4. During the year Tamara purchased five more items at a cost of $5 each and two more items at a cost of $6.50 each. Traylor sold seven items for $9 each. If Traylor uses LIFO, what would be Tamara's gross profit for the year? Marked out of 1.00 Flag question O a $25 O b. $20 O c. $40 O d. $35 Question 40 In a perpetual inventory system, cost of goods sold is recorded Not yet answered Marked out of 1.00 O a. On a daily basis. O b. On an annual basis O c. On a monthly basis d. With each sale Flag