Which of the following cost formulas would be most appropriate for costing an inventory of liquids stored in tanks? weighted average FIFO periodic O perpetual A company had the following inventory activity during November: Units Unit Cost Total Cost Unit Price Beginning inventory 100 $20.00 $2,000 Purchase: November 3 900 $21.00 18,900 Sale: November 5 (900) $30.00 Purchase: November 15 1,000 $21.00 21,000 Sale: November 28 (900) $30.00 If the company uses a perpetual system and the FIFO cost formula, what is the gross margin for the month? O $12,100 $16,200 $16,300 O $17,100 Ponderosa Farms purchased some equipment on January 1, 2020 for $12,600. The equipment has an estimated useful life of 10 years and an estimated residual value of $1,200. The company uses double-declining-balance depreciation. The net book value on January 1, 2021 would be O $10,080. O $10,320. O $11,340. O $11,460