For the Period from 2016 Through 2016, the Charlie Company

question 37

Multiple Choice

For the period from 2016 through 2016, the Charlie Company had net sales of $500,000 and a gross profit of $200,000. During the first quarter of 2018, the company made purchases of $19,500 and recorded sales of $47,500. The inventory value at the beginning of the year was 15,500. What is the estimated cost of Charlie's inventory on March 31, 2018, using the gross profit method?

• A) $22,500
• B) $15,000
• C) $6,500
• D) $6,000

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Definitions:

Reinforcement and Reward

Strategies for strengthening or increasing a desired behavior by providing positive outcomes or incentives following that behavior.

Desirable Behavior

Actions or conduct encouraged within a group or society because it is considered beneficial or socially valued.

Frequency

The rate at which a wave-like pattern or phenomenon, like sound or electromagnetic radiation, occurs within a specific time period.

Antecedent

A factor or event that precedes and influences an outcome.