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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Articles of Confederation

The first constitution of the United States, in effect from 1781 to 1789, which established a national government with limited powers and was eventually replaced by the U.S. Constitution.

Independent Source of Revenue

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Constitution of the United States

The supreme law of the United States, comprising seven articles that delineate the national frame of government.