Karl's Keychain Company Produces Keychains That Sell in Its Stores

question 290

Multiple Choice

Karl's Keychain Company produces keychains that sell in its stores for $1 each. On January 1, 2015, the company had inventory of 10,000 keychains. During 2015, the company produced 900,000 keychains. At the end of the business year on December 31, 2015, the company's inventory of keychains was 8,000. What was the value of Karl's inventory investment in 2015?

• A) $8,000
• B) -$2,000
• C) $18,000
• D) $898,000

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Definitions:

Lawrence Kohlberg

A psychologist known for his theory of moral development, which describes how individuals evolve in their moral reasoning through different stages.

Moral Development

The process through which individuals acquire and understand values, ethics, and principles of right and wrong behavior.

Erik Erikson

A developmental psychologist and psychoanalyst known for his theory on the psychological development of human beings, notably the eight stages of psychosocial development.

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School culture refers to the beliefs, perceptions, relationships, attitudes, and written and unwritten rules that shape and influence every aspect of how a school functions.