In April, Walston Enterprises Had the Following Results How Much Is Cost of Goods Sold for April?
A)$458,000

question 29

Multiple Choice

In April, Walston Enterprises had the following results: $$\begin{array} { l r } \text { Beginning Finished Goods Inventory } & \$ 17,400 \\\text { Ending Finished Goods Inventory } & \$ 25,400 \\\text { Sales } & \$ 965,000 \\\text { Gross Margin } & \$ 450,000\end{array}$$ How much is Cost of Goods sold for April?

• A)$458,000
• B)$515,000
• C)$507,000
• D)$423,000

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Definitions:

Normative Economic Statement

A statement that reflects an opinion, which cannot be proved or disproved by reference to the facts.

Hypothesis

A theory about how key variables relate.

Scientific Method

A systematic and empirical approach to research in which a question is identified, relevant data is gathered, a hypothesis is formulated, and the hypothesis is empirically tested.

Economic Variables

Key factors or indicators that reflect the economic performance or position of an economy, such as GDP, inflation, and unemployment rate.