UUTO LO3. The following information is available for October for Barton Company. Beginning Inventory $1,200,000 Net Purchases 6,000,000 Net Sales 7,600,000 A fire destroyed Barton's October 31 inventory, leaving undamaged inventory with a cost of $1,400,000. Barton's gross profit on sa has remained constant at 25% in recent years. Using the gross profit method, the estimated ending inventory destroyed by fire is a) $185,000. b) $120,000 d) $100,000 d) $90,000 e) $112.000 Question 10 0/4 points LO3. In preparing its bank reconciliation for the month of April 2020, Henke, Inc. has the following information available. Balance per bank statement, 4/30/20 $34,140 NSF check returned with A/30/20 bank Statement 450 Deposits in transit, 4/30/20 5,000 Outstanding checks, 4/30/20 5,200 Bank service charges for April 20 What should be the correct balance of cash at April 30, 2020? a) $34,370 b) $33,740 c) $33.940 d) $33.490 e) $33,470 0/4 points Question 11 LO3. How much lower would taxable income be if LIFO is used rather than FIFO given the following? Beginning 400 units @ $14 Inventory Purchases 200 units @ $15 Sales 300 units @ $50 a) $3.000 b) $1,000 d) $200 d) $400 e) $800