Question: answer both questions ES Question 18 Financial Information is presented below: Operating expenses Sales returns and allowances Sales discounts Sales revenue Cost of goods sold

answer both questions answer both questions ES Question 18 Financial Information is presented below:

Operating expenses Sales returns and allowances Sales discounts Sales revenue Cost of

ES Question 18 Financial Information is presented below: Operating expenses Sales returns and allowances Sales discounts Sales revenue Cost of goods sold $ 60000 2000 6000 140000 106000 Gross Profit would be $36000 $26000 $32000 $34000 URCES Question 19 Sheffield Corp. Just began business and made the following four inventory purchases in June: June 1 165 units June 10 220 units June 15 220 units June 28 165 units $1155 1760 1980 1650 $6545 A physical count of merchandise inventory on June 30 reveals that there are 220 units on hand. Using the LIFO inventory method, the value of the ending Inventory on June 30 is $2145 $2200 $1540

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