Ralph's Dairy Started with $5,000 in Inventory and Had the Following

question 20

Multiple Choice

Ralph's Dairy started with $5,000 in Inventory and had the following transaction totals for the month:
Sales $10,000
Sales Returns and Allowances 1,000
Cost of Goods Sold 5,500
Purchases 7,000
Freight 500
Purchases Returns and Allowances 1,000
Purchases Discounts 700
Based on the above, ending Inventory for the period is

• A) $4,300.
• B) $6,300.
• C) $5,300.
• D) $5,800.

---

Definitions:

Left Eye

Refers to the eye on the left side of the body, which, along with the right eye, provides part of the visual field and depth perception.

Perceptual Constancy

The accurate perception of objects as stable or unchanged despite changes in the sensory patterns they produce.

Retinal Image

The projection of visual stimuli onto the retina, the light-sensitive layer of tissue at the back of the eye, where it is converted into neural signals.

Unchanging

Remaining the same over time; not undergoing any transformation, variation, or development.