14. JiCo uses the periodic method. Its beginning inventory is $43,000, purchases are $321,000, F.O.B. destination, purchase returns are $17,000 and freight is $9,000. The balance in JiCo's ledger Purchases account is....

A.) $330,000 B.) $317,000 C.) $321,000 D.) $304,000

20. XoCo, which begins business in May and uses the perpetual method and moving average costing, shows the following data:

Purchases

May 4 1,000 @ $7

May 14 1,400 @ $8

May 19 2,000 @ $10

Sales

May 11 400 @ $11

May 21 1,500 @ $15

The balance in XoCo's inventory account on May 31 is....

A.) $22,125 B.) $20,833 C.) $21,705 D.) $23,875