Your Company Has 100 Units in Inventory,purchased at $16 Per

question 35

Multiple Choice

Your company has 100 units in inventory,purchased at $16 per unit,that could be replaced for $14.

• A)The company should credit cost of goods sold for $200.
• B)The company should debit cost of goods sold for $1,400.
• C)The company should credit inventory for $200.
• D)The company should debit inventory for $1,400.

---

Definitions:

United States

A country located in North America, known for its significant impact on global finance, culture, and politics.

Population Doubled

A demographic condition where the number of individuals in a specific area or the world has increased to twice its size within a certain period.

1789

The year notable for the start of the French Revolution, marking significant changes in France and influencing revolutions globally.

Construction Boom

A period of rapid expansion in the construction industry, marked by a significant increase in building activities.