Sales and cash collections from customers during 2021 were $660,000 and $620,000, respectively. During 2021, customers returned merchandise for credit of $20,000 to their accounts. False Value Hardware's 2021 income statement would report net sales of: Select one: A. $600,000 B. $628,800. O C. $640,000. D. $633,600. The Constance Corporation's inventory at December 31, 2021, was $128,000 (at cost) based on a physical count of inventory on hand. No adjustments have been made for the following: of Merchandise costing $18,000, shipped f.o.b. shipping point from a vendor on December 27, 2021, was received by Constance on January 5, 2022. Merchandise costing $48,000 was shipped to a customer f.o.b. shipping point on December 28, 2021, arrived at the customer's location on January 6, 2022. Merchandise costing $24,000 was being held by Jess Company on consignment from Constance. What amount should Constance Corporation report as inventory in its December 31, 2021, balance sheet? Select one: o A. $146,000. B. $163,700. C. $122,000. D. $170,000. Calistoga Produce estimates bad debt expense at 0.40% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $487,000 and $1510 (credit) respectively, at December 31, 2020. During 2021, Calistoga's credit sales and collections were $322,000 and $304,000, respectively. Calistoga's gross accounts receivable at December 31, 2021, are: Select one: A. $503,170. B. $485,170. C. $505,000. O D. $467,170. Data related to the inventories of Kimzey Medical Supply are presented below: estion 24 yet swered Dints out of 00 Surgical Surgical Rehab Rehab Equipment Supplies Equipment Supplies Flag question Selling price $ 285 $ 145 $ 365 $ 190 Cost 195 115 275 187 265 105 260 183 Replacement cost Costs to sell $ 40 $ 10 $ 30 20 Normal gross profit ratio 40% 40% 40% 40% In applying the lower of cost or market rule, the inventory of rehab equipment would be valued at: Select one: o A. $195. B. $260. C. $245. D$121 Data related to the inventories of Costco Medical Supply are presented below: Surgical Equipment Surgical Supplies Rehab Equipment Rehab Supplies Selling price $ 262 $ 134 $ 250 $ 162 Cost 167 104 260 157 Costs to sell 24 12 12 12 In applying the lower of cost or net realizable value rule, the inventory of rehab equipment would be valued at: Select one: A. $238. B. $173 C. $228. D. $167