A Company Using the Periodic Inventory System Has Merchandise Inventory

question 170

Multiple Choice

A company using the periodic inventory system has merchandise inventory costing $210 on hand at the beginning of the period.During the period,merchandise costing $635 is purchased.At year-end,merchandise inventory costing $160 is on hand.The cost of merchandise sold for the year is

• A)$795
• B)$685
• C)$265
• D)$635

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Definitions:

Employee's Abilities

The skills and competencies that individuals bring to their job roles within an organization.

Executive Decisions

High-level choices or judgments made by senior management in an organization, often involving strategic directions, policy formulations, and the allocation of significant resources.

Perceptual Errors

are mistakes in judgment that occur when an individual misinterprets sensory stimuli and information from the environment.

Stereotyping

Assigning fixed, generalized attributes to a group of people, often leading to prejudice and discrimination.