The Following Information Is Available for Dennehy Company Dennehy's Cost of Goods Sold Is
A) $262,500

question 141

Multiple Choice

The following information is available for Dennehy Company: $$\begin{array} { l r l r } \text { Sales Revenue } & \$ 390,000 & \text { Freight-In } & \$ 30,000 \\\text { Ending Inventory } & 37,500 & \text { Purchase Returns and Allowances } & 15,000 \\\text { Purchases } & 270,000 & \text { Beginning Inventory } & 45,000\end{array}$$ Dennehy's cost of goods sold is

• A) $262,500.
• B) $285,000.
• C) $292,500.
• D) $345,000.

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Definitions:

Source Document

Original records that contain important details of business transactions, serving as evidence for accounting purposes.

Biased or Unbiased

A characteristic of information or opinion that shows prejudice for or against something (biased) or represents fairness and impartiality (unbiased).

Primary Research

Collection of original data that is done firsthand by the researcher for a specific research purpose or goal.

Quantitative Methodologies

Research techniques focused on the collection and analysis of numerical data to draw conclusions or test hypotheses.