Netta Shutters Has the Following Inventory Information A Physical Count of Merchandise Inventory on November 30 Reveals

question 137

Multiple Choice

Netta Shutters has the following inventory information. $$\begin{array} { r l l } \text { Nov. } 1 & \text { Inventory } & 30 \text { units @ \$8.00 } \\8 & \text { Purchase } & 120 \text { units @ \$8.30 } \\17 & \text { Purchase } & 60 \text { units @ \$8.40 } \\25 & \text { Purchase } & 90 \text { units @ \$8.80 }\end{array}$$ A physical count of merchandise inventory on November 30 reveals that there are 90 units on hand. Assume a periodic inventory system is used. Assuming that the specific identification method is used and that ending inventory consists of 20 units from each of the three purchases and 30 units from the November 1 inventory, cost of goods sold is

• A) $1,740.
• B) $1,772.
• C) $1,782.
• D) $1,794.

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Definitions:

Selling Process

A series of steps taken by a salesperson to identify and qualify potential buyers, present a product or service, address objections, and close the sale.

Retail Shoe

Refers to the sale of shoes through retail outlets, including brick-and-mortar stores and online platforms, to the end consumer.

Buyer's Readiness

The stages a potential purchaser goes through before deciding to buy a product, including awareness, knowledge, liking, preference, conviction, and purchase.

Qualifying Leads

The process of determining the likelihood that a potential customer has interest, as well as the authority and financial capacity, to complete a purchase.