Gulick Company Developed the Following Data for the Current Year

question 27

Multiple Choice

Gulick Company developed the following data for the current year: $\begin{array}{lr}\text { Beginning work in process inventory } & \$ 160,000 \\\text { Direct materials used } & 96,000 \\\text { Actual overhead } & 192,000 \\\text { Overhead applied } & 144,000 \\\text { Cost of goods manufactured } & 176,000 \\\text { Total manufacturing costs } & 480,000\end{array}$
-Gulick Company's ending work in process inventory is

• A)$464,000.
• B)$320,000.
• C)$304,000.
• D)$144,000.

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Definitions:

Net Working Capital

The difference between a company's current assets and current liabilities, indicating the liquidity and operational efficiency.

Auction Market

A public market in which goods or securities are sold to the highest bidder.

Private Placements

Private placements involve the sale of securities to a relatively small number of select investors as a way of raising capital, without the need to register with regulatory bodies.

Electronic Trading

The use of computer systems and technology to facilitate trading in financial markets without the need for physical trading floors.