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The beginning account balances for Terry's Auto Shop as of January 1, Year XXX1, follows:...

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Accounting

The beginning account balances for Terry's Auto Shop as of January 1, Year XXX1, follows:
Account titles Beginning balances
Cash $6,100
Inventory $3,180
Common stock $7,460
Retained earnings $1,820
The following events affected the company during the year:
1 Purchased merchandise on account that cost $4,230
2 The goods in event 1 were purchased FOB shipping point with freight cost of $230 cash.
3 Returned $480 of damaged merchandise for credit on account.
4 Agreed to keep other damaged merchandise for which the company received an $205 allowance.
5 Sold merchandise that cost $2,660 for $4,940 cash.
6 Delivered merchandise to customers in event 5 under terms FOB destination with freight costs amounting to $190 cash.
7 Paid $2,940 on the merchandise purchased in event 1
Select ALL statements that are TRUE.
A.

The ending inventory balance is $4,295
B.

The ending balance of Retained earnings is $3,910
C.

The ending cash balance is $7,605
D.

The ending balance of Common stock is $7,460
E.

The ending balance of Accounts payable is $760

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