A Company Provided the Following Data: Sales,$500,000;beginning Inventory,$40,000;ending Inventory,$45,000;and Gross

question 108

Multiple Choice

A company provided the following data: sales,$500,000;beginning inventory,$40,000;ending inventory,$45,000;and gross profit,$150,000.What was the amount of inventory purchased during the year?

• A)$385,000.
• B)$355,000.
• C)$345,000.
• D)$145,000.

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Definitions:

Variables

Elements, features, or factors that are liable to vary or change in studies or experiments.

Random Assignment

A method used in experiments to randomly allocate participants to different groups to reduce bias.

Continuous

Unbroken or uninterrupted in space, time, or sequence.

Discontinuous

Characterized by distinct stages or levels of development rather than a smooth, gradual progression.