Hard Candy Has a Beginning Inventory of $2,000

question 51

Multiple Choice

Hard Candy has a beginning inventory of $2,000.June purchases were $6,000,and retail sales were $3,000.The store has a normal gross profit of 50%.What is the June 30 estimated ending inventory at cost under the gross profit method?

• A)$6,100
• B)$6,500
• C)$6,700
• D)$6,000

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Definitions:

Desirable Characteristics

Traits or qualities that are considered beneficial or appealing in a particular context.

Behaviors

Observable actions or reactions of an individual, often in response to the environment or stimuli.

Explanatory Question

A type of question designed to probe deeper into an issue by asking for explanations or reasons.

Carbohydrate

A macronutrient consisting of sugars, starches, and fiber that provides energy for the body.