The Cost of Merchandise Sold from the Following Data Is

question 6

Multiple Choice

The cost of merchandise sold from the following data is as follows: sales $80,000, beginning inventory $5,000, purchases $21,800, purchase discounts $790, ending inventory $5,100.

• A) $21,560
• B) $20,190
• C) $20,910
• D) $21,650
• E) None of these

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Definitions:

Ordering

The process of organizing or arranging items systematically or requesting goods or services.

Preferred Vendors

Selected suppliers or service providers that have been vetted and approved by an organization, often given preference due to reliability, cost, or quality.

Discounts

Reductions applied to the regular price of goods or services, often used as a promotional strategy to encourage sales.

Public Relations

The professional maintenance of a favorable public image by a company, organization, or famous person.