Use the following information to answer the next two questions.

Following is some selected data of Chloe Company from the May 31, 2020 adjusted trial balance. All accounts have a normal balance. Chloe Company is a merchandising operation that uses a periodic inventory system. Accounts Payable 840 Interest Revenue 75 Merchandise inventory 2,000 Operating expenses 6,100 Purchases 9,800 Purchases discounts 250 Purchases returns & allowances 350 Sales 30,000 Transportation -in 450 A physical count on May 31, 2020 revealed a merchandise inventory balance of $1,500.

Question 6 (2 points) What is the amount of cost of goods available for sale?

Question 6 options: $9,650 $11,650 $10,150 $9,800

Question 7 (2 points) What is the amount of cost of goods sold?

Question 7 options: $11,650 $8,300 $9,650 $10,150