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2 poin Question 1.38 Cost of merchandise sold appears on the: O income statement after net sales O income statement after gross profit O balance sheet in owner's equity O balance sheet in current assets * Question 1.39 2 poin The following information is available for CC Sports Equipment and Apparel for their inventory of soccer balls: Beginning inventory: 25 units at $10 each. Purchases of inventory: 350 units at $10 each. Sales: 362 units at a selling price $15 (units cost $10 each). Ending inventory is: o $195 O $130 O $370 O $120 A Question 1.40 Which inventory costing method requires that a company tracks the selling cost of each item? 2 point O Weighted average O FIFO O Specific identification O LIFO