Given the Following Data, What Is the Cost of Beginning

question 45

Multiple Choice

Given the following data, what is the cost of beginning inventory?
$\begin{array} { l r } \text { Sales revenue } & \$ 1,450,000 \\\text { Cost of goods sold } & 845,000 \\\text { Ending inventory } & 310,000 \\\text { Purchases } & 950,000\end{array}$

• A) $415,000
• B) $1,485,000
• C) $205,000
• D) $1,035,000

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Definitions:

Developed Countries

Nations with industrialized economies, technological infrastructure, and higher living standards.

Adoption of New Technology

The process by which individuals, businesses, or societies begin using new technological tools, systems, or products, often to improve efficiency, productivity, or quality of life.

Government Aid

Financial assistance or other resources provided by the government to individuals, organizations, or countries in need.

Profit-Making Organizations

Entities that operate with the primary goal of earning revenue in excess of their operational costs.