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Almaden General Store uses a periodic inventory system and the retail inventory method to e inventory and cost of goods sold. The following data are available for the month of November 2021: Cost | Retail Beginning inventory $48,000 $63,000 Net purchases 10,170 32,900 Net markups 2,500 Net markdowns 1,450 Net sales 45,000 Cost of cost of goods sold for November using conventional retail inventory method would be: 0 $30,256. O $29,345. $28,039. O $27,457. Ula $6 WMC Company has five products in its inventory. Information about the December 31, 2021, inventory follows. Product Quantity Unit Cost TUnit Replacement Unit Selling Price Cost 1,000 $10 $12 $16 800 $15 $11 $18 600 $3 $2 $5 200 $7 $4 600 $14. $12 $13 The cost to sell for each product consists of a 10 percent sales commission. The carrying value of inventory at December 31, 2021, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products would be: O $31,900 $32,500. 0 $30,200. 0 $33,600. On February 26, a hurricane destroyed the entire inventory stored in a warehouse owned by the Rockford Corporation. The following information is available from the records of the company's periodic inventory system: beginning inventory, $245,000; purchases and net sales from the beginning of the year through February 26, $450,000 and $650,000, respectively; gross profit ratio, 30%. The cost of inventory destroyed by the hurricane using the gross profit method would be: O $240,000. $45,000. 0 $500,000. 0 $360,000

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