The Following Information Is Available for October for Horton Company

question 34

Multiple Choice

The following information is available for October for Horton Company. $\begin{array}{lr}\text { Beginning inventory } & \$ 100,000 \\\text { Net purchases } & 300,000 \\\text { Net sales } & 600,000 \\\text { Percentage markup on cost } & 66.67 \%\end{array}$ A fire destroyed Horton's October 31 inventory, leaving undamaged inventory with a cost of $6,000.Using the gross profit method, the estimated ending inventory destroyed by fire is

• A)$34,000.
• B)$154,000.
• C)$160,000.
• D)$200,000.

---

Definitions:

T-lymphocytes

A type of white blood cell crucial for the immune response, playing a key role in the body's defense against pathogens.

AIDS

Acquired Immunodeficiency Syndrome, a chronic, potentially life-threatening condition caused by the human immunodeficiency virus (HIV) damaging the immune system.

T-cell Count

A measurement of the number of T-cells (a type of white blood cell crucial for immune function) in the blood, often used to assess immune system health or in the context of diseases like HIV/AIDS.

Systemic Lupus Erythematosus

A chronic autoimmune disease that can affect various parts of the body, including the skin, joints, kidneys, and brain, causing widespread inflammation and tissue damage.