A Company Loses Its Opening Financial Records in a Fire

question 59

Multiple Choice

A company loses its opening financial records in a fire.During the following year, it incurred costs of production of $250,000 and sold $300,000 in merchandise.It took an inventory count and found that it had $100,000 in product on hand.What should the company's opening inventory show before the fire?

• A)$50,000
• B)$100,000
• C)$150,000
• D)Cannot be determined from the above information.

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Definitions:

Impedance

The total opposition a circuit presents to the flow of alternating current, combining both resistance and reactance.

Low-pass Filters

Electronic circuits that pass signals with a frequency lower than a certain cutoff frequency and attenuate signals with frequencies higher than the cutoff frequency.

Inductor

A passive electrical component used in circuits to store energy in a magnetic field when electric current flows through it.

Load Resistor

A resistor used within an electrical or electronic circuit to impose a specific load, often for testing, stabilizing, or controlling current flow.