If $4,000 Was the Beginning Inventory, $10,000 in New Inventory

question 7

Multiple Choice

If $4,000 was the beginning inventory, $10,000 in new inventory purchases were made and the cost of goods sold were $7,000. How much was ending inventory last accounting period?

• A) $7,000
• B) $4,000
• C) $14,000
• D) $3,000

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Definitions:

Receptive Language

The ability to understand or comprehend language heard or read.

Telegraphic Speech

A stage in language development in young children where speech is concise and missing grammatical markers, often including only essential content words.

Outcome Simulation

The process of mentally visualizing the outcomes of specific behaviors or decisions as a way to anticipate and plan for future events.

Gestured Communication

The use of bodily movements, especially of the hands and arms, to express thoughts, emotions, or information without verbal speech.