If a Company Had $3,500 in Inventory on Hand at the End

question 27

Multiple Choice

If a company had $3,500 in inventory on hand at the end of the month, and made purchases of $7,500 during the month, the Cost of Goods Sold they should record on their Income Statement for the month would be:

• A)$ 7,500
• B)$ 4,000
• C)$ 3,500
• D)$11,000

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Definitions:

Psychological Factors

Elements of human psychology that influence one’s emotions, behaviors, and thoughts.

Physical Health

A state of well-being in which the body is functioning properly, encompassing various aspects like fitness and absence of disease.

Oxytocin

A hormone and neurotransmitter involved in childbirth and lactation, also associated with empathy, trust, sexual activity, and relationship-building.

Stress

A feeling of emotional or physical tension that can come from any event or thought leading to frustration, anger, or nervousness.