Oxford Packing Company Reported Net Sales in November of the Current

question 46

Multiple Choice

Oxford Packing Company reported net sales in November of the current year of $1,000,000.At the beginning of November,the company reported beginning inventory of $368,000.Cost of goods purchased during November amounted to $217,500.The company reported ending inventory at the end of November of $226,750. The company's gross profit rate for November of the current year was:

• A)35.9%
• B)18.8%
• C)81.2%
• D)64.1%
• E)58.6%

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Definitions:

Lymphocytes

A subtype of white blood cells that play an integral role in the body's immune response.

Carcinogens

Substances that are known to cause cancer in living tissue.

Serotonin

A neurotransmitter that plays a role in mood regulation, digestion, sleep, and other bodily functions.

Sympathetic Nervous System

Part of the autonomic nervous system that prepares the body for quick action in emergencies; "fight or flight" response.