A Company Reported the Following Information Regarding Its Inventory: Beginning

question 88

Multiple Choice

A company reported the following information regarding its inventory: Beginning inventory: cost of $63,000; retail of $140,000
Net purchases: cost $42,000; retail $84,000 Sales at retail: $160,000
The year-end inventory showed $64,000 worth of merchandise available at retail prices. What is the cost of the ending inventory?

• A)$40,000.
• B)$32,000.
• C)$30,000.
• D)$28,800.

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Definitions:

Aversive Conditioning

A form of behavior therapy that involves using negative stimuli to reduce or eliminate undesirable behaviors.

Alcoholism

A chronic disease characterized by uncontrolled drinking and obsession with alcohol, often leading to health problems and impaired social functioning.

Obesity

A medical condition characterized by excessive body fat that presents a risk to health, typically measured by body mass index (BMI).

Smoking

The act of inhaling and exhaling the smoke of burning plant material, such as tobacco, often associated with addiction and health risks.