Question: hello, I need help with 35, 36, 37, and 38 please and thank you :) Question 38 Beginning Inventory is $400 and Net Purchases are




hello, I need help with 35, 36, 37, and 38 please and thank you :)
Question 38 Beginning Inventory is $400 and Net Purchases are $600: Which statement is accurate? (assume no shrinkage) None of the other answers are possible combinations Ending Inventory is $400 and Cost of Goods Sold is $800 Ending Inventory is $600 and Cost of Goods Sold is $200 Ending Inventory is $500 and Cost of Goods Sold is $500 Question 37 2.5 F Swift company loans an employee $10,000 on September 1st, 2020 for one year. The interest rate is 6%. All principal and interest will be paid back on August 31st 2021. How much interest revenue should Swift report in their 2020 Income Statement? $200 $50 $0 O $600 Question 36 2 Goods are shipped by Wholesome Company to Storage Company FOB shipping point on 12/30/18 and arrive at Storage Company on 1/5/19. Which company should have the inventory listed as an asset on their Balance Sheet at 12/31/2018? Both Wholesome Storage Neither Question 35 The Inventory Costing System a company selects (FIFO, LIFO, Weighted Average) affects: The Income Statement The Statement of Retained Earnings All of the other answers are impacted by this choice The Balance SheetStep by Step Solution
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