Revenue and expense data for Young Technologies Inc.are as follows: 
Definitions:
Average Cost Method
An inventory costing method that calculates the cost of goods sold and ending inventory based on the average cost of all similar items available during the period.
Cost Of Merchandise Sold
The total expense of buying and preparing merchandise for sale, including the cost of the goods themselves and any additional expenses related to their sale.
Gross Profit
The amount of money a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.
FIFO Perpetual
An accounting method where the first items placed in inventory are the first ones sold, continuously tracking inventory levels.
Q10: The cost of merchandise sold during the
Q58: If total assets decreased by $30,000 during
Q61: Journalize the following selected transactions for January.Explanations
Q92: Using the following accounting equation elements and
Q94: Repayment of long-term note payable<br>A)Increase cash from
Q102: Payment of dividends<br>A)Increase cash from operating activities<br>B)Decrease
Q116: Journalize the entries to record the following
Q131: The numerator in calculating the accounts receivable
Q144: Income tax was $175,000 for the year.Income
Q163: Decrease in accounts payable balance<br>A)Increase cash from