Use the Following Information for Questions
Sloan Company, a Wholesaler

question 33

Multiple Choice

Use the following information for questions
Sloan Company, a wholesaler, budgeted the following sales for the indicated months: $\begin{array}{lrrr}&\text { June}&\text { July }&\text {Auqust }\\\text { Sales on account } & \$ 1,800,000 & \$ 1,840,000 & \$ 1,900,000 \\\text { Cash sales } & 180,000 & 200,000 & 260,000\\\text { Total sales } & \$ 1,980,000 & \$ 2,040,000 &\$ 2,160,000\\\end{array}$ All merchandise is marked up to sell at its invoice cost plus 20%.Merchandise inventories at the beginning of each month are at 30% of that month's projected cost of goods sold.
-The cost of goods sold for the month of June is anticipated to be

• A)$1,440,000.
• B)$1,500,000.
• C)$1,520,000.
• D)$1,650,000.

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Definitions:

Scar Tissue

Fibrous tissue that forms over a wound during the healing process, replacing normal skin or tissue that has been damaged.

Tissue Function

The specific physiological or pathological roles and activities performed by different types of body tissues in the overall operation of an organism.

Laparoscopic Appendectomy

A minimally invasive surgical procedure to remove the appendix using small incisions and a laparoscope.

Primary Intention

Primary union of the edges of a wound, progressing to complete scar formation without granulation.