Time left 0:39:18 Question 41 Not yet answered Marked out of 1.00 P Flag question The primary purpose for using an inventory cost flow assumption is to: a. Allocate the total cost of inventory between the accounts of CGS & Beginning Inventory b. Minimize income taxes c. Allocate the total cost of inventory between the accounts of CGS &Ending Inventory d. Maximize the reported amount of net income Previous page Next page G O Time left 0:38:42 Bon 6 wet ered ed out of Financial information is presented below, operating Expenses 45,000, sales Returns and Allowances 13,000, sales Discounts 6,000, sales 160,000, cost of Goods Sold 77,000, Gross profit would be? og question O a. $83,000 O b. $70,000 O c. $77,000 d. $64,000. ous page Next page