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2:57 docs.google.com The following accounts are extracted from the worksheet of X Company on December...

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Accounting

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2:57 docs.google.com The following accounts are extracted from the worksheet of X Company on December 31, 2020 sales teams and allowances Utilities expense-office sales discount wales salaries expenses sales Parduses discount Salaries expense-office rent revieme purchases returns and allowances purchases Interest expense lovestory. 1.2020 sain from sale of building freight out freight in depreciation expense-sales Depreciation expense office cost of goods sold 550.000 $3.000 60.000 1.160.000 60.000 100.000 27.000 17.000 50,000 700.000 10.000 300.000 11,000 30.000 30.000 10.000 8.000 550.000 Based on the data above, the inventory account showed a balance of $------on December 31, 2020:* $240,000 O $1,460,000 O $300,000 O None of the above 2:58 docs.google.com Based on the data above, net sales were: $1,050,000 $980,000 $1,110,000 None of the above Based on the data above, gross profit was: $530,000 $400,000 $470,000 None of the above Based on the data above, selling expenses were: $100,000 $70,000 $130,000 None of the above

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