Use the Information Above to Answer the Following Question

question 75

Multiple Choice

Use the information above to answer the following question.The journal entry necessary at the end of the period to transfer beginning inventory and net purchases to cost of goods sold will include which of the following?

• A)Credit Inventory,$6,250.
• B)Debit Purchases,$11,250.
• C)Debit Inventory,$6,250.
• D)Debit Cost of goods sold,$11,250.

---

Definitions:

Telepathy

The supposed communication of thoughts or ideas between individuals by means other than the known senses.

Precognition

The alleged psychic ability to see or predict future events before they actually happen, lacking scientific support.

Psychokinesis

The alleged psychic ability to move or manipulate objects without physical interaction.

Context Effects

The influence of environmental factors on one's perception, cognition, or behavior in a specific situation.