Francine Ltd

question 54

Multiple Choice

Francine Ltd.had beginning inventory of $10,000 and purchased $75,000 during 2011.The company had sales of $90,000 and has traditionally had a cost-to-sales ratio of 75%.Using the gross margin estimation method, the company estimates its ending inventory to be:

• A)$67,500
• B)$65,000
• C)$17,500
• D)$22,500

---

Definitions:

Filiform Papillae

Filiform papillae are small, thread-like structures on the tongue's surface that do not contain taste buds but are important for the texture and sensation of food.

Ethmoid

A spongy, cuboid-shaped bone located at the roof of the nasal cavity and part of the floor of the anterior cranial fossa; crucial for olfaction and nasal support.

Olfactory Perception

The sense of smell, a complex process involving the detection and identification of volatile substances by the olfactory system.

Constricted Pupils

A condition where the pupils are smaller than usual, often due to light exposure, drug use, or autonomic nervous system activity.