Use the information below to answer the following question.

Pinkerton Ltd uses a perpetual control system for its inventory. It had the following data for a recent

period:

$ $

Beginning accounts receivable 100 000 Sales (all credit) 720 000

Beginning accounts payable 70 000 Cash received from customers 680 000

Beginning inventory 160 000 Cash paid to suppliers 380 000

Purchases (all credit) 350 000

Ending inventory count 90 000

What was the balance of Pinkerton Ltds accounts payable at the end of the period?

A. $20 000

B. $40 000

C. $90 000

D. $100 000

Use the information below to answer the following question.

Pinkerton Ltd uses a perpetual control system for its inventory. It had the following data for a recent

period:

$ $

Beginning accounts receivable 100 000 Sales (all credit) 720 000

Beginning accounts payable 70 000 Cash received from customers 680 000

Beginning inventory 160 000 Cash paid to suppliers 380 000

Purchases (all credit) 350 000

Ending inventory count 90 000

If Pinkerton Ltd had employed the periodic inventory method, what would its gross profit have been?

A. $280 000

B. $300 000

C. $320 000

D. $440 000

please provide explanation