In the Retail Method the Ending Inventory at Cost Is

question 94

Multiple Choice

In the retail method the ending inventory at cost is calculated by multiplying the cost ratio times:

• A)Beginning inventory at retail
• B)Ending inventory at retail
• C)Cost of goods available for sale
• D)Net sales for the month
• E)None of these

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Definitions:

Reinforcement Contingency

Reinforcement contingency is a term in behavioral psychology that refers to the relationship between a behavior and its consequence, emphasizing that a behavior must be followed by a reinforcement for the behavior to be increased.

Internal

Pertaining to or situated within something; often refers to phenomena or processes occurring within an organism or object.

External

Originating from outside, not confined within an entity or individual.

Achievement Motivation

The drive to excel, achieve in relation to a set of standards, or strive to succeed.