Inventory Balances for Spiritlight Ventures for November 2018 Are as Follows

question 161

Multiple Choice

Inventory balances for Spiritlight Ventures for November 2018 are as follows: $$\begin{array}{l}\begin{array} { l l l } &\text { November } 1,2018& \text { November } 30,2018\\\text { Materials } & \$ 9,000 & \$ 7,000 \\\text { Work in process } & 16,000 & 12,400 \\\text { Finished goods } & 36,000 & 30,000\end{array}\end{array}$$
During November, purchases of direct materials were $18,000. Direct labor and factory overhead costs were $20,000 and $28,000, respectively.
The cost of goods manufactured in November was

• A)$68,000.
• B)$77,600.
• C)$74,000.
• D)$71,600.

Differentiate between bailment and other legal concepts such as licences and pledges.

Comprehend the role of foreseeability and negligence in determining liability.

Understand the effect of "act of God" exceptions on bailment liability.

Recognize the conditions necessary for a valid sub-bailment.

---

Definitions:

Cultural Relativism

The principle that an individual's beliefs, values, and practices should be understood based on that individual's own culture, rather than judged against the criteria of another.

Cultural Values

The core principles and ideals upon which an entire community exists, influencing its members' behaviors and beliefs.

Counterculture

A way of life and set of attitudes opposed to or at variance with the prevailing social norm.

Cultural Roots

The origins and elements that make up the shared identity, traditions, and values of a specific group of people or society.