The gross margin estimation method estimates the cost of goods sold by O multiplying the sales revenue by cost-to-sales ratio. O multiplying the cost of goods available by the gross margin percentage. O multiplying the costs to sales ratio by purchases. O multiplying the sales revenue by the inventory turnover ratio. Which cost formula will produce the same results under both the periodic and perpetual inventory systems? O FIFO. O Weighted-average. W O They both produce the same results. O They both produce different results. A depreciable asset with a cost of $42,500 has a residual value of $2,500 and a useful life of 8 years. Total estimated units of output are 80,000 and in year 1; 5,200 units were produced. Under the straight-line method and the units-of-activity method the depreciation expense for the first year would be Straight-line Units-of-activity $2.600.00 $2,762.50 $2,600.00 $2,762.50 O O $5,000.00 $5,000.00 $5,312.50 $5,312.50 During 2020 Lockport Appliances sold 400 appliances worth $2,000,000. Each appliance comes with a one-year assurance-type warranty, which Lockport estimates will cost $75 each. During the year Lockport spent $12,500 on warranty costs for the appliances sold in 2020. At the end of the 2020 the warranty provision and the warranty expense related to these sales would be closest to Warranty Liability. Warranty Expense $17,500 $12,500 $17,500 $30,000 $12,500 $12,500 $30,000 $30,000 In 2020 Borger Industries had beginning inventory of $106,000, purchases of $1,126,500, ending inventory of $116,000, accounts payable of $49,605, and sales of $2,147,250. Inventory turnover for 2017 was closest to O 9.625. O 10.06. O 10.15. O 10.53. A customer loyalty provision specifically refers to Opoints that a customer has redeemed in the past. O the liability related to the unused loyalty points or credits. O the revenues earned from the use of points. O the cash received from the use of points.