If ABC's Statement of Earnings Showed Cost of Goods Sold

question 56

Multiple Choice

If ABC's statement of earnings showed cost of goods sold at $78,000, purchases of $80,000, freight-in at $300, purchases returns of $500 and end-of-the period inventory at
$11,900, its beginning-of-the-period-inventory must have been:

• A) $9,200
• B) $9,900
• C) $10,100
• D) $10,400

Understand the concept of investments in human capital and its importance for individual and organizational productivity.

Recognize the economic reasoning behind employer investments in employee education and the expected returns in terms of labor productivity.

Comprehend how changes in consumer demand impact the demand for resources needed to produce goods.

Grasp the principles underlying the derived demand curve for a resource and how it is affected by changes in the demand for final products.

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Definitions:

Pineal Gland

Gland—either at the skin surface (fish, amphibians) or in the third ventricle of the brain (mammals)—that produces melatonin.

Human Growth Hormone

A peptide hormone secreted by the pituitary gland that stimulates growth, cell reproduction, and regeneration in humans.

Acromegaly

Condition caused by an overproduction of growth hormones as an adult.

Acromegaly

A disorder caused by excess growth hormone in adults, resulting in enlargement of bones and tissues, especially noticeable in the hands, feet, and face.