The Following Information Is Available for the Brown Company for 2010

question 22

Multiple Choice

The following information is available for the Brown Company for 2010: $\begin{array}{ll}\text { Grosssprofit } & \$ 30,000 \\\text { Net sales } & 500,000 \\\text { Beginning inventory } & 220,000 \\\text { Ending inventory } & 40,000\end{array}$ What was the amount of net purchases?

• A)$290, 000
• B)$210, 000
• C)$180, 000
• D)$150, 000

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Definitions:

Money Supply

The total financial capital in an economy at a given point in time, including the accumulation of cash, coins, and balances in checking and savings accounts.

Coordinate System

A system of geometry where the position of points on a plane is described using an ordered pair of numbers.

Quantities

The amounts or levels of a good or service available or required in various contexts, such as in markets or in production processes.

Prices

Amounts of money required to purchase goods or services, acting as an indicator of the value placed on those goods or services by the market.