On May 1, 2021, Sheffield Company sells office furniture for $315600 cash. The office furniture originally cost $757600 when purchased on January 1, 2014. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $75400. What gain should be recognized on the sale? 1) $20,250.2) $10,125.3) $6,750.4) $7,500.

An allergy products superstore buys 6000 of their most popular model of air filters each year. the price of the air filters is $18. the cost of ordering and receiving shipments is $12 per order. accounting estimates annual carrying costs are 20% of the price. the supplier lead time is 2 days. the store operates 240 days per year. each order is received from the supplier in a single delivery. there are no quantity discounts. what is the store’s minimum total annual cost of placing orders & carrying inventory?