Broad, Inc. had a beginning inventory of $50,000 and an ending inventory of $80,000. Its Cost of Goods Sold for the year was $970,000. What was the amount of purchases that it made for the year? A. $940,000
B. $1,000,000
C. $1,050,000
D. $1,060,000

On january 8, the end of the first weekly pay period of the year, regis company's payroll register showed that its employees earned $22,760 of office salaries and $70,840 of sales salaries. withholdings from the employees' salaries include fica social security taxes at the rate of 6.20%, fica medicare taxes at the rate of 1.45%, $13,260 of federal income taxes, $1,450 of medical insurance deductions, and $860 of union dues. no employee earned more than $7,000 in this first pay period. required: 1.1 calculate below the amounts for each of these four taxes of regis company. regis’s merit rating reduces its state unemployment tax rate to 3% of the first $7,000 paid to each employee. the federal unemployment tax rate is 0.60