Graham Company Uses a Periodic Inventory System

question 21

Multiple Choice

Graham Company uses a periodic inventory system. Details for the inventory account for the month of January, 2014 are as follows: An end of the month (1/31/14) inventory showed that 120 units were on hand. How many units did the company sell during January 2014?

• A) 80
• B) 120
• C) 200
• D) 280

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Definitions:

Decision Making

The intellectual activity involved in deciding on an action from a set of different choices.

Good Leaders

Effective individuals who inspire, motivate, and guide others toward achieving collective goals, often demonstrating strong communication, vision, and empathy.

Good Followers

Individuals who support leaders with loyalty, engagement, and constructive feedback, effectively contributing to the team's or organization's success.

Self-Management

The ability of an individual to manage their personal activities and behaviors in an effective manner without external control.