Using the Information Below for Singing Dolls,Inc

question 92

Multiple Choice

Using the information below for Singing Dolls,Inc. ,determine cost of goods manufactured for the year:

• A)$13,000.
• B)$44,500.
• C)$57,500.
• D)$94,500.
• E)$52,000.

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Definitions:

Wholesalers

Companies that sell merchandise to other businesses rather than to the public.

Credit Terms

Terms for payment on account by the buyer to the seller.

Sales Discount

A reduction in the price of goods or services offered to customers, often to prompt early payment or bulk purchases.

Perpetual Inventory System

A system for managing inventory accounts that automatically updates the sale or purchase records using computerized point-of-sale technology and software for enterprise asset management.