A Listing of the Montez Company's Inventory Items at the End

question 31

Multiple Choice

A listing of the Montez Company's inventory items at the end of 2010 totals $95, 000.Included in this amount are the following items: $\text { Merchandise in transit as of } 12 / 31 / 2010 \text { purchased FOB }$
$\begin{array}{ll}\text { shipping point } & \$ 6,800 \\\text { Goods held by Montez as consignee from Nirvana } & 5,000 \\\text { Goods out on consignment, at cost plus } 50 \% \text { markup on cost } & 6,000\end{array}$
What is the dollar amount of Montez's 2010 ending inventory that should be reported on the balance sheet?

• A)$83, 100
• B)$86, 200
• C)$87, 900
• D)$88, 000

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Definitions:

Two-Way Analysis

A statistical test used to examine the influence of two different independent variables on one dependent variable.

Factorial ANOVA

An analysis of variance that is used when an experiment or study has two or more independent variables.

Factorial Analysis

A statistical approach that explains the variance among observed, correlated variables by a smaller set of unobservable variables known as factors.

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A comprehensive term for the condition of an individual or group, encompassing physical, psychological, and social aspects.