Given the Following Items and Costs as of the Balance

question 103

Multiple Choice

Given the following items and costs as of the balance sheet date,determine the value of Faltron Company's merchandise inventory. - $1,000 goods sold by Faltron to another company.The goods are in transit and shipping terms are FOB destination.
- $2,000 goods sold by another company to Faltron.The goods are in transit and shipping terms are FOB destination.
- $3,000 owned by Faltron but in the possession of another company,the consignee.
- Damaged goods owned by Faltron that originally cost $4,000 but now have a $500 net realizable value.

• A)$10,000
• B)$6,500
• C)$5,500
• D)$5,000
• E)$4,500

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Definitions:

Dissonance Theory

A psychological theory proposing that inconsistency among beliefs, perceptions, and actions leads to discomfort, which people are motivated to reduce.

Attitude

A fairly stable evaluation of something as good or bad that makes a person think, feel, or behave positively or negatively about some person, group, or social issue.

Abortion

The medical or surgical termination of a pregnancy before the fetus is capable of independent life.

Peripheral Route

One of the two paths of persuasion according to the Elaboration Likelihood Model, where people are influenced by superficial cues rather than detailed message content.