The Following Information Is Available for Dennehy Company Dennehy's Cost of Goods Sold Is
A) $262,500

question 88

Multiple Choice

The following information is available for Dennehy Company: $$\begin{array} { l r l r } \text { Sales Revenue } & \$ 390,000 & \text { Freight-In } & \$ 30,000 \\\text { Ending Inventory } & 37,500 & \text { Purchase Returns and Allowances } & 15,000 \\\text { Purchases } & 270,000 & \text { Beginning Inventory } & 45,000\end{array}$$ Dennehy's cost of goods sold is

• A) $262,500.
• B) $285,000.
• C) $292,500.
• D) $345,000.

---

Definitions:

Estimate

A value calculated from sample data that is used to indicate the value of a population parameter.

Proportion

A statistical measure that represents the fraction of the total number of objects in a particular category relative to the total number of objects in all categories.

Observational Study

A type of study where researchers observe subjects in their natural environment without manipulating variables.

Survey

A research method used for collecting data from a predefined group of respondents to gain information and insights on various topics of interest.