The following information is available for the past month for a retail store: Sales $104,000 $10,000 $8,000 $38,800 $107,000 $36,000 $47,000 Markups Markdowns Purchases (at cost) Purchases (at retail) Beginning inventory (at cost) Beginning inventory (at retail) What is the ending inventory at cost using the basic retail method? (Rour O A. $52,000 B. $11,000 C. $27,066 D. $24,934 Gleason Construction enters into a long - term fixed price contract to build an office building for $23,000,000. In the first year of the contract Gleason incurs $7,000,000 of cost and the engineers determined that the remaining costs to complete are $14,000,000. How much gross profit or loss should Gleason recognize in Year 1 assuming the use of the completed - contract method? O A. $1,000,000 profit O B. $304,348 loss OC. $2,000,000 loss O D. $0 profit